Frontier Communications Parent (NASDAQ:FYBR) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from an overweight rating to a neutral rating in a report issued on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $38.50 target price on the stock, up from their previous target price of $35.00.

A number of other brokerages have also weighed in on FYBR. UBS Group lowered Frontier Communications Parent from a strong-buy rating to a hold rating in a report on Friday, September 6th. Citigroup lifted their price target on Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research note on Thursday, August 8th. Wells Fargo & Company reissued an equal weight rating and issued a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent 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. Finally, Benchmark reiterated a buy rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $35.38.

Frontier Communications Parent Stock Down 0.8 %

Frontier Communications Parent stock opened at $35.65 on Tuesday. The stock has a 50 day moving average of $29.56 and a two-hundred day moving average of $26.46. Frontier Communications Parent has a twelve month low of $13.66 and a twelve month high of $39.21. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 324.09 and a beta of 1.08. 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 quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, research analysts expect that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent during the 2nd quarter worth approximately $37,000. Neo Ivy Capital Management acquired a new position in shares of Frontier Communications Parent in the fourth quarter worth $49,000. Game Plan Financial Advisors LLC lifted its position in shares of Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in shares of Frontier Communications Parent during the fourth quarter valued at $52,000. Finally, Blue Trust Inc. boosted its stake in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after acquiring an additional 2,244 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.