Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives Consensus Recommendation of “Hold” from Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $35.31.

FYBR has been the subject of several recent analyst reports. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. The Goldman Sachs Group raised their target price 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. Finally, TD Cowen downgraded Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $38.50 in a research note on Tuesday, October 8th.

Frontier Communications Parent Stock Down 0.1 %

Shares of Frontier Communications Parent stock opened at $34.84 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The company has a market cap of $8.68 billion, a P/E ratio of -46.45 and a beta of 1.10. The firm’s 50 day moving average price is $35.35 and its 200-day moving average price is $30.44. Frontier Communications Parent has a 52-week low of $20.42 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results 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). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. Frontier Communications Parent’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, sell-side analysts predict that Frontier Communications Parent will post -0.83 EPS for the current fiscal year.

Insider Transactions at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction 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 of the company’s stock, valued at approximately $4,223,192.70. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Frontier Communications Parent

A number of institutional investors have recently modified their holdings of FYBR. Vanguard Group Inc. boosted its position in Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares in the last quarter. Capital International Investors lifted its position in shares of Frontier Communications Parent by 0.5% during the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after buying an additional 92,944 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Frontier Communications Parent by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after acquiring an additional 1,587,145 shares during the period. Finally, Luxor Capital Group LP increased its holdings in Frontier Communications Parent by 1.6% in the 2nd 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 in 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.