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

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by investment analysts at Raymond James from a “market perform” rating to an “underperform” rating in a note issued to investors on Thursday, Marketbeat Ratings reports.

FYBR has been the subject of a number of other research reports. Benchmark lowered Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Finally, Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $35.79 on Thursday. The firm has a market capitalization of $8.91 billion, a PE ratio of -47.72 and a beta of 1.05. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $35.15 and a two-hundred day moving average of $33.77. Frontier Communications Parent has a 12 month low of $20.51 and a 12 month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) 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). Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.05 EPS. Frontier Communications Parent’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Frontier Communications Parent will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Harrobin sold 23,491 shares of the firm’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 owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This trade represents a 16.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Communications Parent

Several hedge funds have recently added to or reduced their stakes in FYBR. Slotnik Capital LLC bought a new stake in Frontier Communications Parent during the 3rd quarter valued at $34,286,000. Alpine Associates Management Inc. raised its stake in Frontier Communications Parent by 275.9% during the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after acquiring an additional 765,250 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Frontier Communications Parent during the 4th quarter valued at $24,863,000. Amundi raised its stake in Frontier Communications Parent by 1,363.0% during the 4th quarter. Amundi now owns 746,109 shares of the company’s stock valued at $26,345,000 after acquiring an additional 695,109 shares in the last quarter. Finally, Sand Grove Capital Management LLP bought a new stake in Frontier Communications Parent during the 3rd quarter valued at $18,490,000.

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.