Frontier Communications Parent (NASDAQ:FYBR) Upgraded to C- at TheStreet

Frontier Communications Parent (NASDAQ:FYBRGet Rating) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a report released on Wednesday, TheStreetRatingsTable reports.

FYBR has been the topic of several other reports. The Goldman Sachs Group lowered their price objective on Frontier Communications Parent from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Morgan Stanley raised Frontier Communications Parent from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $24.00 to $25.00 in a report on Thursday, May 26th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.22.

Frontier Communications Parent Stock Performance

FYBR stock opened at $26.99 on Wednesday. The stock has a market capitalization of $6.61 billion, a PE ratio of 13.84 and a beta of 0.83. Frontier Communications Parent has a 12-month low of $21.93 and a 12-month high of $35.15. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.90. The stock’s 50 day simple moving average is $25.95 and its 200 day simple moving average is $25.94.

Frontier Communications Parent (NASDAQ:FYBRGet Rating) last released its quarterly earnings data on Friday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.11. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Frontier Communications Parent had a return on equity of 10.42% and a net margin of 7.98%. Frontier Communications Parent’s revenue for the quarter was down 9.7% compared to the same quarter last year. As a group, research analysts forecast that Frontier Communications Parent will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi purchased a new stake in shares of Frontier Communications Parent in the 2nd quarter worth $1,728,000. Verition Fund Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter worth $852,000. Captrust Financial Advisors increased its stake in Frontier Communications Parent by 2,698.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock worth $44,000 after buying an additional 1,808 shares in the last quarter. Legal & General Group Plc increased its stake in Frontier Communications Parent by 161.8% in the 2nd quarter. Legal & General Group Plc now owns 527,776 shares of the company’s stock worth $12,424,000 after buying an additional 326,208 shares in the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in Frontier Communications Parent by 791.5% in the 2nd quarter. ExodusPoint Capital Management LP now owns 707,999 shares of the company’s stock worth $16,666,000 after buying an additional 628,586 shares in the last quarter. 95.42% of the stock is currently owned by hedge funds and other institutional investors.

Frontier Communications Parent Company Profile

(Get Rating)

Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.

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Analyst Recommendations for Frontier Communications Parent (NASDAQ:FYBR)

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