Frontier Communications Parent (NASDAQ:FYBR) Lowered to “Hold” Rating by Benchmark

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by analysts at Benchmark from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat reports.

Several other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research 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 report on Thursday, September 5th. Wolfe Research cut shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Citigroup cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Price Performance

Frontier Communications Parent stock opened at $34.64 on Friday. Frontier Communications Parent has a 12-month low of $20.51 and a 12-month high of $39.21. The stock has a market cap of $8.63 billion, a P/E ratio of -46.19 and a beta of 1.05. The company has a 50-day moving average price of $35.19 and a 200 day moving average price of $30.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

Insider Activity at Frontier Communications Parent

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 shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now owns 121,182 shares in the company, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares in the last quarter. Luxor Capital Group LP lifted its stake in Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after acquiring an additional 43,542 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock worth $82,108,000 after acquiring an additional 109,648 shares during the last quarter. American Century Companies Inc. lifted its stake in Frontier Communications Parent by 4.1% in the second quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock worth $52,515,000 after acquiring an additional 79,265 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Frontier Communications Parent by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 1,874,245 shares of the company’s stock worth $49,068,000 after acquiring an additional 51,133 shares during 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.