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

Frontier Communications Parent (NASDAQ:FYBR) posted its earnings results 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. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share.

Frontier Communications Parent Stock Performance

Shares of FYBR stock traded down $0.38 during midday trading on Friday, hitting $34.45. 2,110,777 shares of the company were exchanged, compared to its average volume of 2,145,566. The firm has a market capitalization of $8.58 billion, a P/E ratio of -46.44 and a beta of 1.10. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $35.23 and its two-hundred day moving average price is $29.46. Frontier Communications Parent has a 52 week low of $18.43 and a 52 week high of $39.21.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. TD Cowen lowered 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 report on Tuesday, October 8th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Frontier Communications Parent presently has an average rating of “Hold” and a consensus price target of $35.31.

About Frontier Communications Parent

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.