Wolfe Research Downgrades Frontier Communications Parent (NASDAQ:FYBR) to Peer Perform

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

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. The Goldman Sachs Group raised their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup boosted their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.38.

Frontier Communications Parent Stock Down 0.4 %

Shares of NASDAQ FYBR opened at $35.38 on Monday. The business has a 50-day moving average price of $31.24 and a 200 day moving average price of $27.27. The stock has a market cap of $8.79 billion, a PE ratio of 321.64 and a beta of 1.08. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent has a 52-week low of $13.66 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. Equities research 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

A number of large investors have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC lifted its position in shares of Frontier Communications Parent by 23.8% in the second quarter. Game Plan Financial Advisors LLC now owns 2,600 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Frontier Communications Parent by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,797 shares of the company’s stock worth $1,173,000 after buying an additional 585 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Frontier Communications Parent by 6.8% during the second quarter. Wedmont Private Capital now owns 10,075 shares of the company’s stock worth $275,000 after buying an additional 640 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Frontier Communications Parent by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,801 shares of the company’s stock valued at $597,000 after buying an additional 662 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Frontier Communications Parent by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,113 shares of the company’s stock valued at $180,000 after buying an additional 732 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.