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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has received a consensus recommendation of “Reduce” from the five research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Frontier Communications Parent in a research note on Wednesday.

Institutional Investors Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Frontier Communications Parent by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company’s stock valued at $873,364,000 after purchasing an additional 77,795 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Frontier Communications Parent by 52.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company’s stock valued at $227,067,000 after purchasing an additional 2,157,594 shares during the last quarter. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at $207,593,000. Balyasny Asset Management L.P. lifted its stake in shares of Frontier Communications Parent by 130.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company’s stock valued at $165,708,000 after purchasing an additional 2,577,691 shares during the last quarter. Finally, Pentwater Capital Management LP acquired a new stake in shares of Frontier Communications Parent in the 1st quarter valued at $161,370,000.

Frontier Communications Parent Trading Down 0.1%

Shares of NASDAQ:FYBR opened at $37.32 on Friday. The firm has a fifty day moving average of $37.15 and a two-hundred day moving average of $36.62. The firm has a market capitalization of $9.34 billion, a P/E ratio of -24.08 and a beta of 0.94. Frontier Communications Parent has a 12-month low of $33.72 and a 12-month high of $37.87. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 2.49.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned ($0.49) EPS. On average, equities analysts expect that Frontier Communications Parent will post -1.11 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.