Frontier Communications Parent (NASDAQ:FYBR) Announces Quarterly Earnings Results, Misses Estimates By $0.38 EPS

Frontier Communications Parent (NASDAQ:FYBR) posted its earnings results on Friday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38), Briefing.com reports. Frontier Communications Parent had a return on equity of 0.52% and a net margin of 0.47%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted ($0.01) EPS. Frontier Communications Parent’s revenue was up 2.1% on a year-over-year basis.

Frontier Communications Parent Stock Down 7.9 %

Shares of FYBR traded down $2.27 during mid-day trading on Friday, reaching $26.60. The company’s stock had a trading volume of 3,493,073 shares, compared to its average volume of 1,559,005. Frontier Communications Parent has a 12-month low of $13.66 and a 12-month high of $29.47. The stock has a market cap of $6.61 billion, a PE ratio of 241.82 and a beta of 1.08. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50 day moving average is $26.38 and its 200 day moving average is $24.79.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FYBR shares. The Goldman Sachs Group began coverage on Frontier Communications Parent in a research note on Monday, July 1st. They set a “buy” rating and a $29.00 target price on the stock. Bank of America began coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price target on the stock. TD Cowen reduced their price target on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. UBS Group began coverage on Frontier Communications Parent in a research report on Thursday, July 18th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Citigroup increased their price target on Frontier Communications Parent from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.38.

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.