Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives Average Recommendation of “Hold” from Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned an average rating of “Hold” from the twelve research firms that are covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.31.

A number of research analysts have recently issued reports on the company. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. BNP Paribas upgraded shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. TD Cowen downgraded 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 report on Tuesday, October 8th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a report on Monday, October 28th. Finally, Benchmark downgraded shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Activity at Frontier Communications Parent

In other Frontier Communications Parent news, EVP John Harrobin sold 23,491 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total transaction of $818,661.35. Following the completion of the sale, the executive vice president now owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. The trade was 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 the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Natixis Advisors LLC increased its holdings in Frontier Communications Parent by 10.5% in the 2nd quarter. Natixis Advisors LLC now owns 17,073 shares of the company’s stock worth $447,000 after acquiring an additional 1,619 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Frontier Communications Parent by 8.0% during the second quarter. Victory Capital Management Inc. now owns 63,860 shares of the company’s stock valued at $1,672,000 after purchasing an additional 4,755 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Frontier Communications Parent by 3.0% in the second quarter. Arizona State Retirement System now owns 52,185 shares of the company’s stock worth $1,366,000 after purchasing an additional 1,524 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Frontier Communications Parent by 10.8% in the second quarter. Daiwa Securities Group Inc. now owns 7,870 shares of the company’s stock worth $206,000 after purchasing an additional 770 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Frontier Communications Parent by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 2,005,937 shares of the company’s stock valued at $52,515,000 after purchasing an additional 79,265 shares during the period.

Frontier Communications Parent Stock Up 0.4 %

Shares of Frontier Communications Parent stock opened at $35.31 on Thursday. The company has a 50-day simple moving average of $34.81 and a two-hundred day simple moving average of $32.39. The stock has a market capitalization of $8.79 billion, a PE ratio of -47.08 and a beta of 1.05. Frontier Communications Parent has a 52-week low of $20.51 and a 52-week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last announced 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). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Frontier Communications Parent’s revenue was up 3.7% on a year-over-year basis. On average, analysts anticipate that Frontier Communications Parent will post -0.83 EPS for the current fiscal year.

About Frontier Communications Parent

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.