Frontier Communications Parent (NASDAQ:FYBR) Lifted to “Hold” at BNP Paribas

BNP Paribas upgraded shares of Frontier Communications Parent (NASDAQ:FYBR) to a hold rating in a report issued on Monday morning, Zacks.com reports.

Several other equities research analysts also recently issued reports on FYBR. Benchmark restated a “buy” rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note 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. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $35.85 on Monday. The firm has a market capitalization of $8.91 billion, a PE ratio of 325.91 and a beta of 1.10. The firm’s fifty day simple moving average is $33.07 and its 200 day simple moving average is $28.19. Frontier Communications Parent has a 1 year low of $16.29 and a 1 year high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19.

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

Hedge Funds Weigh In On Frontier Communications Parent

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Frontier Communications Parent by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares in the last quarter. Capital International Investors increased its holdings in shares of Frontier Communications Parent by 0.5% during the first quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after buying an additional 92,944 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Frontier Communications Parent by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after acquiring an additional 1,462,646 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Finally, Luxor Capital Group LP increased its holdings in 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 purchasing an additional 43,542 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.