Federated Hermes Inc. Has $660,000 Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Federated Hermes Inc. reduced its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,198 shares of the company’s stock after selling 1,036 shares during the quarter. Federated Hermes Inc.’s holdings in Frontier Communications Parent were worth $660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC lifted its position in Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares during the period. SummerHaven Investment Management LLC lifted its position in Frontier Communications Parent by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock worth $1,173,000 after purchasing an additional 585 shares during the period. Wedmont Private Capital lifted its position in Frontier Communications Parent by 6.8% in the second 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. PNC Financial Services Group Inc. lifted its position in Frontier Communications Parent by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after purchasing an additional 732 shares during the period. Finally, Retirement Systems of Alabama lifted its position in Frontier Communications Parent by 0.3% in the first quarter. Retirement Systems of Alabama now owns 277,784 shares of the company’s stock worth $6,806,000 after purchasing an additional 763 shares during the period.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $35.65 on Monday. Frontier Communications Parent, Inc. has a 12-month low of $13.66 and a 12-month high of $39.21. The stock has a 50-day simple moving average of $30.10 and a 200 day simple moving average of $26.69. 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 quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19.

Frontier Communications Parent (NASDAQ:FYBR) last posted 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). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FYBR. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $38.50 target price (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group lifted their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, Moffett Nathanson cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

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.