Frontier Communications Parent (NASDAQ:FYBR) Issues Earnings Results

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

Frontier Communications Parent Stock Down 0.7 %

Shares of NASDAQ:FYBR traded down $0.24 during midday trading on Thursday, reaching $34.83. The company’s stock had a trading volume of 2,224,728 shares, compared to its average volume of 2,145,805. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a 50 day moving average of $35.10 and a 200-day moving average of $29.43. Frontier Communications Parent has a 12-month low of $18.43 and a 12-month high of $39.21. The firm has a market capitalization of $8.67 billion, a P/E ratio of -46.76 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FYBR shares. TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th. Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. UBS Group downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.