Frontier Communications Parent (NASDAQ:FYBR) Announces Earnings Results

Frontier Communications Parent (NASDAQ:FYBR) announced its earnings results on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock traded up $0.11 during mid-day trading on Wednesday, reaching $35.06. 2,429,620 shares of the company’s stock were exchanged, compared to its average volume of 2,136,280. The business’s fifty day simple moving average is $34.97 and its 200 day simple moving average is $29.39. 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 market capitalization of $8.73 billion, a PE ratio of -94.48 and a beta of 1.10. Frontier Communications Parent has a one year low of $18.43 and a one year high of $39.21.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.