Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been given an average rating of “Hold” by the twelve research firms that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.31.

FYBR has been the topic of a number of recent research reports. BNP Paribas raised Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. TD Cowen downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. Finally, Raymond James lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 28th.

Frontier Communications Parent Price Performance

Shares of NASDAQ:FYBR opened at $35.31 on Thursday. The firm has a market capitalization of $8.79 billion, a PE ratio of -47.08 and a beta of 1.05. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a 50-day moving average price of $34.81 and a two-hundred day moving average price of $32.39. Frontier Communications Parent has a twelve month low of $20.51 and a twelve month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Equities analysts forecast that Frontier Communications Parent will post -0.83 EPS for the current year.

Insider Activity

In related news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares in the company, valued at $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in Frontier Communications Parent by 10.5% during the 2nd quarter. Natixis Advisors LLC now owns 17,073 shares of the company’s stock valued at $447,000 after acquiring an additional 1,619 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Frontier Communications Parent by 8.0% during the second quarter. Victory Capital Management Inc. now owns 63,860 shares of the company’s stock valued at $1,672,000 after purchasing an additional 4,755 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Frontier Communications Parent by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 52,185 shares of the company’s stock worth $1,366,000 after purchasing an additional 1,524 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Frontier Communications Parent by 10.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,870 shares of the company’s stock worth $206,000 after buying an additional 770 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Frontier Communications Parent by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock valued at $52,515,000 after buying an additional 79,265 shares in 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.