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

by · The Cerbat Gem

Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11), Briefing.com reports. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded up $0.14 during mid-day trading on Wednesday, reaching $35.09. 2,589,544 shares of the company traded hands, compared to its average volume of 2,137,024. Frontier Communications Parent has a 52 week low of $18.43 and a 52 week high of $39.21. The firm has a market cap of $8.74 billion, a PE ratio of -94.48 and a beta of 1.10. The company’s 50 day moving average price is $34.97 and its 200-day moving average price is $29.39. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.

Analysts Set New Price Targets

Several research firms recently commented on FYBR. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Benchmark restated a “buy” rating and set a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday, September 5th. TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.50 in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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 company presently has a consensus rating of “Hold” and an average price target of $35.31.

Get Our Latest Analysis on FYBR

Frontier Communications Parent Company Profile

(Get Free Report)

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.

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