Frontier Communications Parent (NASDAQ:FYBR) Raised to Hold at BNP Paribas

BNP Paribas upgraded shares of Frontier Communications Parent (NASDAQ:FYBR) to a hold rating in a research report report published on Monday, Zacks.com reports.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised their price target 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. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an overweight rating to a neutral rating and raised their price target for the company from $35.00 to $38.50 in a research report on Tuesday, September 17th. TD Cowen downgraded shares of Frontier Communications Parent from a buy rating to a hold rating and decreased their price objective for the stock from $39.00 to $38.50 in a research report on Tuesday, October 8th. Moffett Nathanson cut Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Thursday, September 5th. Finally, UBS Group lowered Frontier Communications Parent from a strong-buy rating to a hold rating in a research note on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $35.31.

Frontier Communications Parent Stock Performance

FYBR opened at $35.71 on Monday. The company has a market cap of $8.88 billion, a P/E ratio of 324.64 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm’s 50-day moving average price is $32.74 and its 200-day moving average price is $28.08. Frontier Communications Parent has a 52-week low of $16.29 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The company had revenue of $1.48 billion for 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 company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, equities analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of FYBR. Dimensional Fund Advisors LP boosted its holdings 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. Canada Pension Plan Investment Board boosted its stake in 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 worth $335,257,000 after buying an additional 1,462,646 shares during the last quarter. Reaves W H & Co. Inc. purchased a new stake in Frontier Communications Parent in the 1st quarter valued at $20,200,000. Columbus Hill Capital Management L.P. increased its stake in shares of Frontier Communications Parent by 345.7% in 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 last quarter. Finally, Marshall Wace LLP increased 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 worth $11,002,000 after acquiring 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.