Frontier Communications Parent (NASDAQ:FYBR) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from an overweight rating to a neutral rating in a report issued on Tuesday morning, MarketBeat reports. They currently have $38.50 price objective on the stock, up from their previous price objective of $35.00.

A number of other brokerages have also weighed in on FYBR. Moffett Nathanson lowered Frontier Communications Parent from a strong-buy rating to a hold rating in a report on Thursday, September 5th. UBS Group downgraded shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a report on Friday, September 6th. Benchmark reissued a buy rating and set a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Citigroup upped 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. Finally, The Goldman Sachs Group raised their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Frontier Communications Parent presently has an average rating of Moderate Buy and an average target price of $35.38.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $35.39 on Tuesday. The firm has a market capitalization of $8.80 billion, a P/E ratio of 321.73 and a beta of 1.08. Frontier Communications Parent has a 52 week low of $13.66 and a 52 week high of $39.21. 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 company has a 50 day moving average price of $29.76 and a 200 day moving average price of $26.53.

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

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors have recently made changes to their positions in FYBR. Creative Planning grew its position in Frontier Communications Parent by 23.4% during the second quarter. Creative Planning now owns 11,842 shares of the company’s stock valued at $310,000 after buying an additional 2,247 shares during the period. Algert Global LLC grew its position in shares of Frontier Communications Parent by 12.8% during the 2nd quarter. Algert Global LLC now owns 42,594 shares of the company’s stock valued at $1,115,000 after acquiring an additional 4,824 shares during the period. Luxor Capital Group LP grew its position in shares of Frontier Communications Parent by 1.6% during the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after acquiring an additional 43,542 shares during the period. AQR Capital Management LLC purchased a new position in shares of Frontier Communications Parent in the 2nd quarter valued at about $269,000. Finally, Aristeia Capital L.L.C. raised its holdings in Frontier Communications Parent by 1.9% in the 2nd quarter. Aristeia Capital L.L.C. now owns 1,260,024 shares of the company’s stock worth $32,987,000 after purchasing an additional 23,825 shares during the period.

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.