Frontier Communications Parent (NASDAQ:FYBR) Downgraded to Market Perform Rating by Raymond James

Raymond James lowered shares of Frontier Communications Parent (NASDAQ:FYBR) from a strong-buy rating to a market perform rating in a research note issued to investors on Monday morning, MarketBeat.com reports.

A number of other equities research analysts have also recently commented on FYBR. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Finally, 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. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Up 0.1 %

FYBR opened at $35.93 on Monday. Frontier Communications Parent has a one year low of $16.30 and a one year high of $39.21. The company has a fifty day moving average price of $34.42 and a 200-day moving average price of $28.99. The firm has a market capitalization of $8.95 billion, a P/E ratio of -97.11 and a beta of 1.10. 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 issued 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). The firm 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%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. Equities research analysts expect that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Frontier Communications Parent by 18.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after acquiring an additional 444 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the period. SummerHaven Investment Management LLC increased its stake in Frontier Communications Parent by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock valued at $1,173,000 after buying an additional 585 shares during the period. US Bancorp DE increased its stake in Frontier Communications Parent by 8.4% in the 3rd quarter. US Bancorp DE now owns 7,750 shares of the company’s stock valued at $275,000 after buying an additional 598 shares during the period. Finally, Wedmont Private Capital grew its stake in shares of Frontier Communications Parent by 6.8% during the 2nd quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock worth $275,000 after purchasing an additional 640 shares during the period.

About Frontier Communications Parent

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.