Frontier Communications Parent (NASDAQ:FYBR) Downgraded by Wolfe Research

Wolfe Research lowered shares of Frontier Communications Parent (NASDAQ:FYBR) from an outperform rating to a peer perform rating in a report released on Monday morning, Marketbeat Ratings reports.

Several other equities analysts have also recently weighed in on FYBR. The Goldman Sachs Group increased their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a research note on Monday, August 5th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an overweight rating to a neutral rating and boosted their price objective for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. Citigroup lifted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a report on Thursday, August 8th. Moffett Nathanson lowered shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a report on Thursday, September 5th. Finally, Benchmark restated a buy rating and set a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $35.38.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $35.53 on Monday. The company’s 50 day moving average is $31.08 and its 200-day moving average is $27.19. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a market cap of $8.83 billion, a P/E ratio of 323.00 and a beta of 1.08. Frontier Communications Parent has a 12-month low of $13.66 and a 12-month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted ($0.01) EPS. Frontier Communications Parent’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent in the second quarter worth approximately $37,000. Neo Ivy Capital Management acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at $49,000. Game Plan Financial Advisors LLC lifted its position in Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares in the last quarter. Blue Trust Inc. lifted its position in Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Frontier Communications Parent by 100.9% during the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after purchasing an additional 1,267 shares during the last quarter.

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.