Frontier Communications Parent (NASDAQ:FYBR) Upgraded by Zacks Research to Strong-Buy Rating

Frontier Communications Parent (NASDAQ:FYBR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Frontier Communications Parent has an average rating of “Hold”.

Frontier Communications Parent Stock Up 0.3%

Shares of NASDAQ FYBR opened at $38.44 on Wednesday. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $9.62 billion, a PE ratio of -25.29 and a beta of 0.94. Frontier Communications Parent has a 12-month low of $35.31 and a 12-month high of $38.50. The firm’s 50-day moving average is $38.03 and its two-hundred day moving average is $37.43.

Frontier Communications Parent (NASDAQ:FYBR) last released its earnings results on Tuesday, October 28th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. Frontier Communications Parent had a negative net margin of 6.24% and a negative return on equity of 7.91%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned ($0.33) EPS. Frontier Communications Parent’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts anticipate that Frontier Communications Parent will post -1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontier Communications Parent

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Frontier Communications Parent by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 24,561,203 shares of the company’s stock worth $917,361,000 after buying an additional 442,337 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Frontier Communications Parent by 133.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 10,636,721 shares of the company’s stock worth $397,282,000 after purchasing an additional 6,084,303 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Frontier Communications Parent by 2.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 6,400,371 shares of the company’s stock valued at $239,054,000 after purchasing an additional 162,272 shares during the period. Dimensional Fund Advisors LP grew its position in Frontier Communications Parent by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 5,950,737 shares of the company’s stock valued at $222,260,000 after purchasing an additional 26,133 shares in the last quarter. Finally, Norges Bank bought a new position in Frontier Communications Parent in the second quarter valued at approximately $207,593,000.

About Frontier Communications Parent

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.