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

Key Points

• Frontier Communications Parent reported a quarterly earnings per share (EPS) of ($0.49), missing the consensus estimate by $0.08.
• The company has a negative return on equity of 7.73% and a negative net margin of 6.47%.
• Frontier Communications' stock traded down 0.3% to $36.50, with a market cap of $9.13 billion.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.18), Zacks reports. Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm posted ($0.49) EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR traded down $0.14 on Friday, hitting $36.60. 2,290,406 shares of the company were exchanged, compared to its average volume of 2,586,780. The company's 50 day moving average price is $36.49 and its two-hundred day moving average price is $36.16. Frontier Communications Parent has a one year low of $24.43 and a one year high of $39.21. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.42 and a current ratio of 0.36. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of -23.61 and a beta of 0.95.

Institutional Trading of Frontier Communications Parent

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Frontier Communications Parent by 129.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company's stock valued at $83,792,000 after acquiring an additional 1,316,597 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Frontier Communications Parent by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 664,891 shares of the company's stock valued at $23,843,000 after acquiring an additional 49,803 shares during the period. Royal Bank of Canada increased its stake in Frontier Communications Parent by 5.3% in the first quarter. Royal Bank of Canada now owns 35,250 shares of the company's stock valued at $1,264,000 after acquiring an additional 1,778 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Frontier Communications Parent by 957.5% in the first quarter. Geneos Wealth Management Inc. now owns 772 shares of the company's stock valued at $28,000 after acquiring an additional 699 shares during the period.

About Frontier Communications Parent

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.