Frontier Communications Parent (NASDAQ:FYBR) Rating Lowered to Hold at Citigroup

Citigroup cut shares of Frontier Communications Parent (NASDAQ:FYBR) from a strong-buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

Other analysts have also recently issued reports about the stock. TD Cowen cut shares of Frontier Communications Parent from a buy rating to a hold rating and decreased their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. Wells Fargo & Company reaffirmed an equal weight rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Wolfe Research downgraded Frontier Communications Parent from an outperform rating to a peer perform rating in a research report on Monday, September 30th. Benchmark restated a buy rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, Moffett Nathanson cut shares of Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has an average rating of Hold and a consensus price target of $35.31.

Frontier Communications Parent Price Performance

Shares of Frontier Communications Parent stock opened at $35.25 on Friday. The firm has a market cap of $8.76 billion, a PE ratio of 320.45 and a beta of 1.10. The stock has a 50 day moving average of $32.58 and a 200 day moving average of $28.00. 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 12 month low of $16.29 and a 12 month high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, research analysts expect that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

A number of large investors have recently modified their holdings of FYBR. Vanguard Group Inc. increased its holdings in Frontier Communications Parent by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares during the period. Capital International Investors increased its stake in shares of Frontier Communications Parent by 0.5% during the first quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after buying an additional 92,944 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Frontier Communications Parent by 12.0% during the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after buying an additional 1,462,646 shares during the period. 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 acquiring an additional 1,587,145 shares in the last quarter. Finally, Luxor Capital Group LP lifted its stake in Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after acquiring an additional 43,542 shares during the period.

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.