Frontier Communications Parent (NASDAQ:FYBR) Lowered to “Neutral” at JPMorgan Chase & Co.

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, FinViz reports. They currently have a $38.50 price target on the stock, up from their prior price target of $35.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.09% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. Citigroup increased their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group raised their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus target price of $35.38.

Frontier Communications Parent Stock Down 1.3 %

FYBR opened at $35.95 on Tuesday. Frontier Communications Parent has a 12 month low of $13.66 and a 12 month high of $39.21. The business has a 50-day moving average of $29.36 and a two-hundred day moving average of $26.38. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 326.82 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (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%. Frontier Communications Parent’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, research analysts expect that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the second quarter worth about $37,000. Neo Ivy Capital Management acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $49,000. Cape Investment Advisory Inc. acquired a new position in shares of Frontier Communications Parent in the 4th quarter valued at approximately $52,000. Game Plan Financial Advisors LLC boosted its stake in shares of Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 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.