Frontier Communications Parent (NASDAQ:FYBR) Releases Quarterly Earnings Results, Misses Expectations 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 analysts’ consensus estimates of ($0.11) by ($0.38), Briefing.com reports. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. Frontier Communications Parent’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS.

Frontier Communications Parent Stock Performance

FYBR traded down $2.27 during trading hours on Friday, hitting $26.60. 3,493,073 shares of the stock were exchanged, compared to its average volume of 1,559,005. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 241.82 and a beta of 1.08. The stock has a 50-day simple moving average of $26.38 and a 200-day simple moving average of $24.79. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07. Frontier Communications Parent has a 12 month low of $13.66 and a 12 month high of $29.47.

Wall Street Analysts Forecast Growth

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