Frontier Communications Parent (NASDAQ:FYBR) Downgraded to “Market Perform” Rating by Raymond James

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

A number of other equities research analysts have also issued reports on FYBR. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a report on Monday, October 14th. Benchmark reissued a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research note on Thursday, September 5th. TD Cowen lowered 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. The Goldman Sachs Group increased 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. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $35.73 on Monday. The company has a market cap of $8.90 billion, a P/E ratio of -96.57 and a beta of 1.10. Frontier Communications Parent has a twelve month low of $16.30 and a twelve month high of $39.21. The company’s 50-day moving average price is $34.58 and its 200-day moving average price is $29.03. 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 released its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) EPS. On average, sell-side analysts forecast that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds have recently bought and sold shares of FYBR. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent during the second quarter worth about $37,000. Blue Trust Inc. increased its stake in Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares during the period. Farther Finance Advisors LLC increased its stake in Frontier Communications Parent by 80.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in Frontier Communications Parent by 23.8% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after buying an additional 500 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Frontier Communications Parent by 18.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock valued at $99,000 after buying an additional 444 shares during the period.

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.