Frontier Communications Parent (NASDAQ:FYBR) Posts Earnings Results, Misses Expectations By $0.11 EPS

Frontier Communications Parent (NASDAQ:FYBR) issued its quarterly earnings data 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 company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis.

Frontier Communications Parent Trading Down 0.7 %

NASDAQ:FYBR traded down $0.23 during trading hours on Thursday, reaching $34.84. The company’s stock had a trading volume of 233,857 shares, compared to its average volume of 2,136,417. The firm has a 50-day simple moving average of $35.10 and a 200-day simple moving average of $29.43. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.87 and a current ratio of 0.87. Frontier Communications Parent has a 1 year low of $18.43 and a 1 year high of $39.21. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of -46.76 and a beta of 1.10.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wolfe Research cut Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Raymond James lowered Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.