Frontier Communications Parent (NASDAQ:FYBR) Stock Rating Lowered by Benchmark

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by Benchmark from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $38.50 in a research note on Tuesday, September 17th. TD Cowen lowered shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company restated an “equal weight” rating and set a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 5th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Up 0.3 %

NASDAQ:FYBR opened at $34.64 on Friday. The firm has a market capitalization of $8.63 billion, a P/E ratio of -46.19 and a beta of 1.05. Frontier Communications Parent has a 1-year low of $20.51 and a 1-year high of $39.21. The company’s fifty day moving average price is $35.19 and its 200-day moving average price is $30.90. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. As a group, equities research analysts anticipate that Frontier Communications Parent will post -0.83 EPS for the current year.

Insider Buying and Selling at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total transaction of $818,661.35. Following the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after buying an additional 372 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Frontier Communications Parent in the third quarter worth about $240,000. M&T Bank Corp lifted its stake in shares of Frontier Communications Parent by 4.2% in the third quarter. M&T Bank Corp now owns 18,703 shares of the company’s stock worth $664,000 after buying an additional 750 shares in the last quarter. Barclays PLC lifted its stake in shares of Frontier Communications Parent by 39.7% in the third quarter. Barclays PLC now owns 99,969 shares of the company’s stock worth $3,553,000 after buying an additional 28,417 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Frontier Communications Parent in the third quarter worth about $618,000.

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.