Citigroup downgraded shares of Frontier Communications Parent (NASDAQ:FYBR - Free Report) from a strong-buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.
FYBR has been the topic of a number of other research reports. 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 shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Friday, September 6th. Wolfe Research lowered shares of Frontier Communications Parent from an outperform rating to a peer perform rating in a research report on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Parent from an overweight rating to a neutral rating and raised their price objective for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, Benchmark reissued a buy rating and set a $37.00 target price on shares of Frontier Communications Parent in a report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $35.31.
Get Our Latest Stock Analysis on FYBR
Frontier Communications Parent Stock Up 1.3 %
Shares of FYBR traded up $0.46 on Friday, reaching $35.71. The company's stock had a trading volume of 8,826,035 shares, compared to its average volume of 2,064,918. Frontier Communications Parent has a twelve month low of $16.29 and a twelve month high of $39.21. The stock has a market capitalization of $8.88 billion, a PE ratio of 324.64 and a beta of 1.10. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a fifty day moving average of $32.74 and a 200-day moving average of $28.08.
Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.38). The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations 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 company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) earnings per share. Equities analysts predict that Frontier Communications Parent will post -0.79 EPS for the current year.
Institutional Investors Weigh In On Frontier Communications Parent
A number of institutional investors and hedge funds have recently made changes to their positions in FYBR. GAMMA Investing LLC grew its position in Frontier Communications Parent by 18.9% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the company's stock worth $99,000 after buying an additional 444 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of Frontier Communications Parent by 23.8% during 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 in the last quarter. SummerHaven Investment Management LLC increased its position in shares of 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 last quarter. Wedmont Private Capital raised its stake in Frontier Communications Parent by 6.8% in the second quarter. Wedmont Private Capital now owns 10,075 shares of the company's stock valued at $275,000 after purchasing an additional 640 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Frontier Communications Parent by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,801 shares of the company's stock valued at $597,000 after purchasing an additional 662 shares during the last quarter.
About Frontier Communications Parent
(
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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.
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