Frontier Communications Parent (NASDAQ:FYBR) Lowered to Underperform Rating by Raymond James

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) was downgraded by equities researchers at Raymond James from a "market perform" rating to an "underperform" rating in a research note issued to investors on Thursday, MarketBeat.com reports.

A number of other research firms have also commented on FYBR. Benchmark lowered Frontier Communications Parent from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. BNP Paribas raised Frontier Communications Parent to a "hold" rating in a research report on Monday, October 14th. Finally, Citigroup cut Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $35.31.

Frontier Communications Parent Stock Performance

FYBR stock traded up $0.01 during midday trading on Thursday, hitting $35.80. 1,365,348 shares of the company traded hands, compared to its average volume of 2,533,344. Frontier Communications Parent has a twelve month low of $20.51 and a twelve month high of $39.21. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of -47.73 and a beta of 1.05. 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 business has a 50 day simple moving average of $35.11 and a 200-day simple moving average of $33.69.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.11). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. As a group, equities research analysts predict that Frontier Communications Parent will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John Harrobin sold 23,491 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the sale, the executive vice president now directly owns 121,182 shares in the company, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Frontier Communications Parent

Institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in shares of Frontier Communications Parent during the third quarter valued at $586,000. Anthracite Investment Company Inc. bought a new stake in Frontier Communications Parent during the third quarter worth about $1,743,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth approximately $9,948,000. Charles Schwab Investment Management Inc. raised its stake in shares of Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company's stock valued at $82,108,000 after acquiring an additional 109,648 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Frontier Communications Parent in the 3rd quarter worth approximately $2,299,000.

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.