In the last trading session, 3.88 million Frontier Group Holdings Inc. (NASDAQ:ULCC) shares changed hands as the company’s beta touched 2.11. With the company’s per share price at $5.15 changed hands at -$0.39 or -7.04% during last session, the market valuation stood at $1.14B. ULCC’s last price was a discount, traded about -178.45% off its 52-week high of $14.34. The share price had its 52-week low at $5.31, which suggests the last value was -3.11% down since then. When we look at Frontier Group Holdings Inc.’s average trading volume, we note the 10-day average is 3.15 million shares, with the 3-month average coming to 1.82 million.
Analysts gave the Frontier Group Holdings Inc. (ULCC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 12 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 6 recommended ULCC as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Frontier Group Holdings Inc.’s EPS for the current quarter is expected to be $0.11.
Frontier Group Holdings Inc. (NASDAQ:ULCC) trade information
Instantly ULCC was in red as seen at the end of in last trading. With action -16.67%, the performance over the past five days has been red. The drop to weekly highs of 6.26 on Monday, 09/18/23 subtracted -7.04% to the stock’s daily price. The company’s shares are showing year-to-date downside of -49.85%, with the 5-day performance at -16.67% in the red. However, in the 30-day time frame, Frontier Group Holdings Inc. (NASDAQ:ULCC) is -26.32% down. Looking at the short shares, we see there were 6.03 million shares sold at short interest cover period of 3.1 days.
The consensus price target for the stock as assigned by Wall Street analysts is $11.09, meaning bulls need an upside of 53.56% from its current market value. According to analyst projections, ULCC’s forecast low is $7.00 with $18.00 as the target high. To hit the forecast high, the stock’s price needs a -249.51% plunge from its current level, while the stock would need to soar -35.92% for it to hit the projected low.
Frontier Group Holdings Inc. (ULCC) estimates and forecasts
Data shows that the Frontier Group Holdings Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -43.47% over the past 6 months, a 725.00% in annual growth rate that is considerably higher than the industry average of 13.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Frontier Group Holdings Inc. will fall -26.70%, while the growth in revenue is estimated to hit -16.70% for the next quarter. Year-over-year growth is forecast to reach 13.30% up from the last financial year.
Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $965.47 million. 9 analysts are of the opinion that Frontier Group Holdings Inc.’s revenue for the quarter ending Dec 2023 will be $982.77 million. The company’s revenue for the corresponding quarters a year ago was $908.93 million and $906 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 6.20%. The estimates for the next quarter sales put growth at 8.50%.
The 2023 estimates are for Frontier Group Holdings Inc. earnings to increase by 64.80%.
Frontier Group Holdings Inc. is expected to release its next quarterly earnings report in October.
Frontier Group Holdings Inc. (NASDAQ:ULCC)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.74% of Frontier Group Holdings Inc. shares while 102.11% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.92%. There are 102.11% institutions holding the Frontier Group Holdings Inc. stock share, with Indigo Partners LLC the top institutional holder. As of Jun 29, 2023, the company held 81.04% of the shares, roughly 178.83 million ULCC shares worth $1.73 billion.
U.S. Global Investors, Inc. holds the second largest percentage of outstanding shares, with 2.53% or 5.58 million shares worth $53.91 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were ETF Series Solutions-U.S. Global Jets ETF and Price (T.Rowe) Real Assets Trust I. With 5.58 million shares estimated at $53.91 million under it, the former controlled 2.53% of total outstanding shares. On the other hand, Price (T.Rowe) Real Assets Trust I held about 0.80% of the shares, roughly 1.76 million shares worth around $17.34 million.