Frontier Communications Parent (NASDAQ:FYBR) Cut to "Market Perform" at Raymond James

Raymond James cut shares of Frontier Communications Parent (NASDAQ:FYBR - Free Report) from a strong-buy rating to a market perform rating in a research note released on Monday morning, MarketBeat.com reports.

FYBR has been the topic of several other research reports. Citigroup downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. Moffett Nathanson cut shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 5th. Wells Fargo & Company restated an "equal weight" rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group lifted their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Price Performance

NASDAQ FYBR traded down $0.18 on Monday, reaching $35.83. The company's stock had a trading volume of 2,375,932 shares, compared to its average volume of 2,111,739. 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 market cap of $8.92 billion, a PE ratio of -97.32 and a beta of 1.10. Frontier Communications Parent has a 52 week low of $16.30 and a 52 week high of $39.21. The business has a 50-day moving average price of $34.01 and a 200 day moving average price of $28.77.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the company posted ($0.01) EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Frontier Communications Parent will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC bought a new position in shares of Frontier Communications Parent during the 2nd quarter valued at about $37,000. Blue Trust Inc. lifted its stake in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company's stock valued at $55,000 after buying an additional 2,244 shares in the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of 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 valued at $68,000 after buying an additional 500 shares during the period. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 444 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Frontier Communications Parent by 140.9% during the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company's stock worth $103,000 after acquiring an additional 2,461 shares during the period.

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.