Frontdoor (NASDAQ:FTDR) Trading Up 14.2% on Earnings Beat

Frontdoor Inc. (NASDAQ:FTDR)’s stock price was up 14.2% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $63.66 and last traded at $64.2670. Approximately 59,422 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 496,704 shares. The stock had previously closed at $56.30.

The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The firm had revenue of $433.00 million for the quarter, compared to the consensus estimate of $421.62 million. Frontdoor had a return on equity of 122.74% and a net margin of 12.87%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTDR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frontdoor in a research report on Monday, December 29th. Wall Street Zen lowered Frontdoor from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Truist Financial set a $71.00 price objective on Frontdoor in a report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Broad Bay Capital Management LP bought a new stake in shares of Frontdoor in the second quarter valued at approximately $46,886,000. Eventide Asset Management LLC acquired a new position in Frontdoor in the 2nd quarter valued at $28,506,000. Boston Partners lifted its position in shares of Frontdoor by 8.5% during the 4th quarter. Boston Partners now owns 5,777,252 shares of the company’s stock valued at $333,742,000 after acquiring an additional 454,040 shares during the period. Marshall Wace LLP acquired a new stake in shares of Frontdoor during the 3rd quarter worth $23,871,000. Finally, Reinhart Partners LLC. increased its position in shares of Frontdoor by 25.6% in the fourth quarter. Reinhart Partners LLC. now owns 1,629,152 shares of the company’s stock worth $93,987,000 after purchasing an additional 332,556 shares during the period.

Frontdoor Stock Performance

The stock has a 50 day moving average of $58.09 and a 200 day moving average of $59.68. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 3.64. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 18.28 and a beta of 1.34.

About Frontdoor

Frontdoor, Inc (NASDAQ:FTDR) is a leading provider of home service plans and repair solutions for residential property owners. The company offers contract-based coverage that helps homeowners manage the cost of repairing and replacing essential household systems and appliances, including heating and cooling, plumbing, electrical wiring, water heaters, washers, dryers, refrigerators and other major kitchen equipment.

Frontdoor delivers its services through a nationwide network of independent service professionals and contractors, leveraging a cloud-based platform and call center infrastructure to coordinate service visits and process claims.