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

Frontier Communications Parent (NASDAQ:FYBR) was upgraded by equities researchers at BNP Paribas to a “hold” rating in a report released on Monday, Zacks.com reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. The Goldman Sachs Group boosted their target price on Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a research note on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Performance

Shares of NASDAQ:FYBR opened at $35.71 on Monday. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 324.64 and a beta of 1.10. The firm’s 50 day simple moving average is $32.74 and its 200 day simple moving average is $28.08. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. Frontier Communications Parent has a fifty-two week low of $16.29 and a fifty-two week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Frontier Communications Parent will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Several hedge funds have recently bought and sold shares of FYBR. Vanguard Group Inc. raised its stake in Frontier Communications Parent by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock valued at $607,253,000 after buying an additional 136,350 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Frontier Communications Parent by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock worth $180,000 after acquiring an additional 732 shares during the last quarter. GAMMA Investing LLC raised its stake in Frontier Communications Parent by 100.9% in the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock valued at $62,000 after acquiring an additional 1,267 shares during the period. Wedmont Private Capital boosted its position in Frontier Communications Parent by 11.0% during the first quarter. Wedmont Private Capital now owns 9,435 shares of the company’s stock worth $227,000 after purchasing an additional 935 shares during the period. Finally, Game Plan Financial Advisors LLC boosted its position in Frontier Communications Parent by 320.0% during the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 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.