Moffett Nathanson Lowers Frontier Communications Parent (NASDAQ:FYBR) to Hold

Moffett Nathanson downgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a strong-buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

Several other equities analysts also recently commented on FYBR. JPMorgan Chase & Co. upped their target price on Frontier Communications Parent from $33.00 to $35.00 and gave the company an overweight rating in a research report on Monday, August 5th. UBS Group initiated coverage on Frontier Communications Parent in a research report on Thursday, July 18th. They set a buy rating and a $33.00 price objective on the stock. Citigroup boosted their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research report on Thursday, August 8th. Wells Fargo & Company reaffirmed an equal weight rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday. Finally, Benchmark reissued a buy rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $34.94.

Frontier Communications Parent Trading Up 1.5 %

Shares of Frontier Communications Parent stock opened at $35.53 on Thursday. Frontier Communications Parent has a 1 year low of $13.66 and a 1 year high of $39.21. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 323.00 and a beta of 1.08. The business has a fifty day simple moving average of $28.17 and a two-hundred day simple moving average of $25.82. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results 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 the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted ($0.01) EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Frontier Communications Parent will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently made changes to their positions in FYBR. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent during the 4th quarter worth $1,541,000. Victory Capital Management Inc. boosted its holdings in shares of Frontier Communications Parent by 61.6% during the 4th quarter. Victory Capital Management Inc. now owns 63,657 shares of the company’s stock valued at $1,613,000 after acquiring an additional 24,258 shares in the last quarter. M&T Bank Corp grew its position in Frontier Communications Parent by 41.2% during the 4th quarter. M&T Bank Corp now owns 16,002 shares of the company’s stock worth $406,000 after acquiring an additional 4,670 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Frontier Communications Parent by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,437 shares of the company’s stock worth $73,852,000 after purchasing an additional 252,408 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Frontier Communications Parent by 41.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,861,434 shares of the company’s stock worth $123,191,000 after purchasing an additional 1,415,278 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.