Frontier Communications Parent (NASDAQ:FYBR) Downgraded to Underperform Rating by Raymond James

Raymond James downgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a market perform rating to an underperform rating in a research note published on Thursday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Benchmark cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. BNP Paribas upgraded Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Finally, Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Frontier Communications Parent presently has an average rating of “Hold” and a consensus target price of $35.31.

Frontier Communications Parent Stock Up 0.0 %

Shares of NASDAQ FYBR opened at $35.80 on Thursday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $8.91 billion, a PE ratio of -47.73 and a beta of 1.05. Frontier Communications Parent has a one year low of $20.51 and a one year high of $39.21. The business’s fifty day moving average price is $35.13 and its 200-day moving average price is $33.70.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11). The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. Frontier Communications Parent’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, equities research analysts anticipate that Frontier Communications Parent will post -0.92 EPS for the current year.

Insider Activity

In other news, EVP John Harrobin sold 23,491 shares of Frontier Communications Parent stock in a transaction on Tuesday, November 19th. The shares were 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Frontier Communications Parent

A number of large investors have recently added to or reduced their stakes in FYBR. UMB Bank n.a. increased its position in shares of Frontier Communications Parent by 68.0% during the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock valued at $36,000 after purchasing an additional 425 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Frontier Communications Parent in the third quarter worth approximately $50,000. Meeder Asset Management Inc. bought a new position in Frontier Communications Parent during the third quarter valued at approximately $52,000. Farther Finance Advisors LLC raised its stake in shares of Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after acquiring an additional 811 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Frontier Communications Parent in the 3rd quarter worth approximately $91,000.

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.