Frontier Communications Parent (NASDAQ:FYBR) Stock Rating Lowered by Wolfe Research

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Monday, Marketbeat Ratings reports.

Several other research firms have also recently issued reports on FYBR. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. 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. Benchmark reaffirmed a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday, September 5th. Wells Fargo & Company reissued an “equal weight” rating and issued a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Finally, The Goldman Sachs Group increased 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. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Frontier Communications Parent Trading Down 0.4 %

Shares of FYBR stock opened at $35.38 on Monday. 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 has a twelve month low of $13.66 and a twelve month high of $39.21. The company’s 50-day moving average price is $31.24 and its 200-day moving average price is $27.27. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 321.64 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The firm 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% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. As a group, equities analysts predict that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after buying an additional 108,344 shares in the last quarter. Capital International Investors increased its position in shares of Frontier Communications Parent by 0.5% in the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after purchasing an additional 92,944 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Frontier Communications Parent by 12.0% in 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 purchasing an additional 1,462,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Finally, Luxor Capital Group LP grew its stake in shares of Frontier Communications Parent by 1.6% during the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after purchasing an additional 43,542 shares in 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.