Frontier Communications Parent (NASDAQ:FYBR) Downgraded to Hold at Citigroup

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.

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

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.