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

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

Other equities research analysts have also issued research reports about the company. Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a report on Friday, September 6th. The Goldman Sachs Group boosted their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wolfe Research downgraded shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 30th. Finally, TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $35.73 on Monday. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of -96.57 and a beta of 1.10. The firm’s fifty day simple moving average is $34.58 and its 200-day simple moving average is $29.03. Frontier Communications Parent has a twelve month low of $16.30 and a twelve month high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The business 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 business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. Equities analysts forecast that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after buying an additional 1,587,145 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after acquiring an additional 1,462,646 shares during the last quarter. Reaves W H & Co. Inc. purchased a new stake in Frontier Communications Parent during the 1st quarter valued at approximately $20,200,000. Columbus Hill Capital Management L.P. lifted its position in Frontier Communications Parent by 345.7% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 445,744 shares of the company’s stock worth $11,670,000 after acquiring an additional 345,744 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Frontier Communications Parent by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 420,227 shares of the company’s stock valued at $11,002,000 after purchasing an additional 139,215 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.