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

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been given a consensus rating of “Hold” by the twelve analysts that are covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.31.

FYBR has been the subject of several analyst reports. Citigroup lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. Raymond James cut shares of Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Moffett Nathanson downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th.

Insider Buying and Selling

In related news, EVP John Harrobin sold 23,491 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the sale, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at $4,223,192.70. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Frontier Communications Parent

Several large investors have recently modified their holdings of FYBR. Dimensional Fund Advisors LP increased its holdings in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after buying an additional 1,587,145 shares during the period. Canada Pension Plan Investment Board boosted its position 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 acquiring an additional 1,462,646 shares in the last quarter. Slotnik Capital LLC purchased a new position in shares of Frontier Communications Parent in the 3rd quarter valued at $34,286,000. Sand Grove Capital Management LLP bought a new position in shares of Frontier Communications Parent in the 3rd quarter worth $18,490,000. Finally, Anchorage Capital Advisors L.P. lifted its stake in shares of Frontier Communications Parent by 26.6% during the 3rd quarter. Anchorage Capital Advisors L.P. now owns 1,729,555 shares of the company’s stock worth $61,451,000 after purchasing an additional 362,888 shares during the last quarter.

Frontier Communications Parent Stock Down 0.5 %

Shares of FYBR opened at $34.75 on Wednesday. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of -46.33 and a beta of 1.10. The business’s 50 day simple moving average is $35.45 and its 200-day simple moving average is $30.19. 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 has a 1 year low of $20.42 and a 1 year high of $39.21.

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