JPMorgan Chase & Co. Downgrades Frontier Communications Parent (NASDAQ:FYBR) to Neutral

Frontier Communications Parent (NASDAQ:FYBR) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They currently have a $38.50 price target on the stock, up from their previous price target of $35.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.91% from the company’s current price.

FYBR has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price objective 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. UBS Group cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $38.50 price target (up from $31.00) on shares of Frontier Communications Parent in a research report on Friday, September 6th. Finally, Citigroup lifted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Frontier Communications Parent Price Performance

Shares of FYBR stock opened at $35.35 on Tuesday. Frontier Communications Parent has a twelve month low of $13.66 and a twelve month high of $39.21. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The stock has a fifty day simple moving average of $29.76 and a two-hundred day simple moving average of $26.53. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 321.36 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data 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 during 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. On average, analysts predict that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FYBR. Vanguard Group Inc. grew its holdings in shares of Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock valued at $589,777,000 after buying an additional 108,344 shares during the last quarter. Capital International Investors lifted its position in Frontier Communications Parent by 0.5% during the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after acquiring an additional 92,944 shares during the period. Canada Pension Plan Investment Board grew its stake in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after purchasing an additional 1,462,646 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the period. Finally, Luxor Capital Group LP raised its stake in shares of Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after purchasing an additional 43,542 shares during the last quarter.

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.