Frontier Communications Parent (NASDAQ:FYBR) Announces Quarterly Earnings Results

Frontier Communications Parent (NASDAQ:FYBR) issued its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11), Briefing.com reports. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $0.05 EPS. Frontier Communications Parent’s revenue for the quarter was up 3.7% compared to the same quarter last year.

Frontier Communications Parent Trading Down 1.1 %

Shares of FYBR traded down $0.38 during trading hours on Friday, hitting $34.45. 2,110,777 shares of the stock were exchanged, compared to its average volume of 2,145,566. Frontier Communications Parent has a fifty-two week low of $18.43 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day moving average of $35.23 and a 200-day moving average of $29.46. The firm has a market capitalization of $8.58 billion, a P/E ratio of -46.44 and a beta of 1.10.

Analysts Set New Price Targets

Several analysts have weighed in on FYBR shares. TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.50 in a research note on Tuesday, October 8th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. The Goldman Sachs Group boosted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent presently has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.