American Century Companies Inc. Has $52.52 Million Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

American Century Companies Inc. lifted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 4.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,005,937 shares of the company’s stock after purchasing an additional 79,265 shares during the quarter. American Century Companies Inc. owned 0.81% of Frontier Communications Parent worth $52,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the 2nd quarter valued at $37,000. Neo Ivy Capital Management purchased a new stake in shares of Frontier Communications Parent in the fourth quarter valued at $49,000. Cape Investment Advisory Inc. acquired a new stake in shares of Frontier Communications Parent in the fourth quarter worth $52,000. Game Plan Financial Advisors LLC boosted its position in shares of Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares in the last quarter.

Wall Street Analyst Weigh In

FYBR has been the subject of a number of research reports. Wells Fargo & Company restated an “equal weight” rating and set 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 boosted their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.94.

Frontier Communications Parent Stock Down 1.3 %

Frontier Communications Parent stock opened at $35.95 on Tuesday. The company has a market capitalization of $8.94 billion, a P/E ratio of 326.82 and a beta of 1.08. The firm’s fifty day simple moving average is $29.36 and its 200-day simple moving average is $26.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent, Inc. has a 1-year low of $13.66 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released 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). The business had revenue of $1.48 billion for 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 firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current fiscal year.

Frontier Communications Parent 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.