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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been given an average recommendation of “Hold” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating on the company.

FYBR has been the topic of a number of recent research reports. Zacks Research upgraded shares of Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Monday, December 29th.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $38.49 on Friday. Frontier Communications Parent has a 52 week low of $35.31 and a 52 week high of $38.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of -25.32 and a beta of 0.94. The stock has a 50 day moving average of $38.09 and a 200-day moving average of $37.50.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) EPS. As a group, analysts forecast that Frontier Communications Parent will post -1.11 EPS for the current year.

Institutional Trading of Frontier Communications Parent

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Frontier Communications Parent by 1.8% in the third 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 during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Frontier Communications Parent by 133.6% during the third quarter. Balyasny Asset Management L.P. now owns 10,636,721 shares of the company’s stock valued at $397,282,000 after acquiring an additional 6,084,303 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Frontier Communications Parent by 2.6% during the third quarter. Qube Research & Technologies Ltd now owns 6,400,371 shares of the company’s stock worth $239,054,000 after acquiring an additional 162,272 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Frontier Communications Parent by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,950,737 shares of the company’s stock worth $222,260,000 after acquiring an additional 26,133 shares during the period. Finally, Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 2nd quarter worth about $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.