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

Frontier Communications Parent (NASDAQ:FYBR) released its quarterly 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 company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share.

Frontier Communications Parent Price Performance

Shares of NASDAQ FYBR traded down $0.38 during trading hours on Friday, hitting $34.45. 2,149,661 shares of the stock were exchanged, compared to its average volume of 2,145,816. 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 company has a market cap of $8.58 billion, a PE ratio of -46.44 and a beta of 1.10. The company’s fifty day simple moving average is $35.23 and its two-hundred day simple moving average is $29.46. Frontier Communications Parent has a 1-year low of $18.43 and a 1-year high of $39.21.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FYBR shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. 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 research report on Tuesday, September 17th. Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Raymond James lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th. Finally, BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.