Frontier Communications Parent (NASDAQ:FYBR) Cut to Peer Perform at Wolfe Research

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Monday, Briefing.com reports.

A number of other research firms have also recently weighed in on FYBR. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent 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 report on Thursday, September 5th. UBS Group lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a report on Thursday, September 5th. Finally, Citigroup upped their price objective on Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $35.71 on Monday. 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 has a 1-year low of $13.66 and a 1-year high of $39.21. The stock has a market cap of $8.88 billion, a PE ratio of 324.64 and a beta of 1.08. The firm has a fifty day moving average price of $30.90 and a 200 day moving average price of $27.10.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after buying an additional 1,587,145 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Frontier Communications Parent by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after acquiring an additional 1,462,646 shares during the last quarter. Reaves W H & Co. Inc. purchased a new stake in Frontier Communications Parent in the first quarter valued at approximately $20,200,000. Sunriver Management LLC purchased a new stake in Frontier Communications Parent during the fourth quarter valued at about $16,255,000. Finally, Foursixthree Capital LP purchased a new position in shares of Frontier Communications Parent in the 4th quarter worth about $9,801,000.

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.