Frontier Communications Parent (NASDAQ:FYBR) Posts Earnings Results, Beats Expectations By $0.07 EPS

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.07, Zacks reports. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. Frontier Communications Parent's revenue was up 3.5% on a year-over-year basis.

Frontier Communications Parent Stock Performance

Shares of NASDAQ FYBR traded down $0.09 during trading hours on Wednesday, hitting $36.18. 156,851 shares of the stock were exchanged, compared to its average volume of 2,667,894. The company's 50 day moving average is $35.90 and its 200 day moving average is $35.47. The firm has a market capitalization of $9.05 billion, a P/E ratio of -28.04 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. Frontier Communications Parent has a one year low of $22.80 and a one year high of $39.21.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 36,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the sale, the executive vice president now owns 76,523 shares of the company's stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FYBR has been the topic of several recent research reports. New Street Research cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. Raymond James cut shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Frontier Communications Parent currently has a consensus rating of "Hold" and a consensus target price of $36.07.

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.