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

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

Frontier Communications Parent Price Performance

FYBR stock traded up $0.11 during trading on Wednesday, reaching $35.06. The company’s stock had a trading volume of 2,429,620 shares, compared to its average volume of 2,136,280. 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 company’s fifty day moving average is $34.97 and its 200-day moving average is $29.39. The company has a market capitalization of $8.73 billion, a P/E ratio of -94.48 and a beta of 1.10. Frontier Communications Parent has a 1 year low of $18.43 and a 1 year high of $39.21.

Analysts Set New Price Targets

FYBR has been the topic of several research analyst reports. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. UBS Group lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company restated an “equal weight” rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Moffett Nathanson downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.