Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 0.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 276,095 shares of the company’s stock after selling 1,689 shares during the period. Retirement Systems of Alabama owned about 0.11% of Frontier Communications Parent worth $7,228,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capstone Investment Advisors LLC acquired a new stake in shares of Frontier Communications Parent during the first quarter worth $1,817,000. Norges Bank acquired a new stake in Frontier Communications Parent during the 4th quarter worth about $50,269,000. Sunriver Management LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $16,255,000. NBC Securities Inc. boosted its holdings in shares of Frontier Communications Parent by 26,121.9% in the first quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock worth $2,145,000 after buying an additional 87,247 shares during the period. Finally, Magnolia Group LLC increased its position in shares of Frontier Communications Parent by 0.8% in the fourth quarter. Magnolia Group LLC now owns 4,476,931 shares of the company’s stock worth $113,445,000 after acquiring an additional 36,000 shares in the last quarter.

Frontier Communications Parent Stock Up 3.2 %

FYBR opened at $28.62 on Monday. The company has a market capitalization of $7.11 billion, a PE ratio of 260.18 and a beta of 1.08. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.07. Frontier Communications Parent, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $29.47. The business has a 50-day moving average of $27.02 and a 200-day moving average of $25.23.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data 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 net margin of 0.47% and a return on equity of 0.52%. Frontier Communications Parent’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. Equities research analysts forecast that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FYBR shares. Citigroup lifted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen lowered their price target on Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group increased their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. UBS Group initiated coverage on Frontier Communications Parent in a research note on Thursday, July 18th. They set a “buy” rating and a $33.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.88.

Frontier Communications Parent 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.