Frontier Communications Parent (NASDAQ:FYBR) Downgraded to “Hold” at UBS Group

UBS Group cut shares of Frontier Communications Parent (NASDAQ:FYBR) from a strong-buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

A number of other brokerages also recently issued reports on FYBR. The Goldman Sachs Group lifted their price target on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on Frontier Communications Parent from $33.00 to $35.00 and gave the company an overweight rating in a report on Monday, August 5th. Benchmark reaffirmed a buy rating and set a $37.00 price target on shares of Frontier Communications Parent in a report on Thursday, September 5th. Moffett Nathanson cut Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company reissued an equal weight rating and set a $38.50 target price (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $34.94.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $35.77 on Friday. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 325.18 and a beta of 1.08. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. Frontier Communications Parent has a 52 week low of $13.66 and a 52 week high of $39.21. The company has a fifty day simple moving average of $28.36 and a two-hundred day simple moving average of $25.95.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. Frontier Communications Parent’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. As a group, equities analysts anticipate that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Several institutional investors and hedge funds have recently added to or reduced their stakes in FYBR. Capstone Investment Advisors LLC acquired a new stake in shares of Frontier Communications Parent in the 1st quarter worth $1,817,000. Norges Bank acquired a new stake in Frontier Communications Parent in the fourth quarter valued at about $50,269,000. Sunriver Management LLC purchased a new stake in Frontier Communications Parent in the 4th quarter valued at approximately $16,255,000. NBC Securities Inc. increased its position in Frontier Communications Parent by 26,121.9% during the 1st quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock worth $2,145,000 after purchasing an additional 87,247 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Frontier Communications Parent during the 1st quarter worth approximately $1,449,000.

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.