Raymond James Lowers Frontier Communications Parent (NASDAQ:FYBR) to Market Perform

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a report released on Monday, Briefing.com reports.

Other research analysts have also issued reports about the stock. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.31.

Frontier Communications Parent Stock Down 0.4 %

Shares of NASDAQ FYBR opened at $36.01 on Monday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $8.97 billion, a PE ratio of -97.32 and a beta of 1.10. Frontier Communications Parent has a one year low of $16.29 and a one year high of $39.21. The business’s fifty day moving average price is $34.01 and its 200-day moving average price is $28.77.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data 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 firm had revenue of $1.48 billion during 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 company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the 2nd quarter valued at $37,000. Blue Trust Inc. lifted its stake in Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after purchasing an additional 2,244 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of Frontier Communications Parent by 23.8% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Frontier Communications Parent by 18.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,799 shares of the company’s stock worth $99,000 after purchasing an additional 444 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Frontier Communications Parent by 140.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock valued at $103,000 after purchasing an additional 2,461 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.