California Public Employees Retirement System Has $6.87 Million Stock Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

California Public Employees Retirement System grew its holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBRFree Report) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 438,889 shares of the company’s stock after purchasing an additional 68,080 shares during the quarter. California Public Employees Retirement System’s holdings in Frontier Communications Parent were worth $6,869,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in shares of Frontier Communications Parent by 97.5% in the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company’s stock valued at $143,737,000 after acquiring an additional 3,028,313 shares during the period. Norges Bank acquired a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $54,468,000. ANTIPODES PARTNERS Ltd raised its position in shares of Frontier Communications Parent by 35.0% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 7,594,774 shares of the company’s stock valued at $141,566,000 after acquiring an additional 1,969,522 shares during the period. Capital International Investors raised its holdings in Frontier Communications Parent by 19.8% during the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock worth $303,091,000 after buying an additional 1,809,275 shares during the period. Finally, PointState Capital LP acquired a new stake in Frontier Communications Parent during the 2nd quarter worth approximately $33,014,000.

Frontier Communications Parent Price Performance

NASDAQ:FYBR opened at $25.39 on Wednesday. Frontier Communications Parent, Inc. has a 1-year low of $11.65 and a 1-year high of $30.83. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The firm has a fifty day simple moving average of $23.50 and a 200 day simple moving average of $19.20. The stock has a market capitalization of $6.24 billion, a PE ratio of 37.34 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBRGet Free Report) last released its earnings results on Wednesday, November 1st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Frontier Communications Parent had a net margin of 2.90% and a return on equity of 3.22%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $0.49 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, research analysts expect that Frontier Communications Parent, Inc. will post 0.02 EPS for the current fiscal year.

Analyst Ratings Changes

FYBR has been the topic of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Frontier Communications Parent from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Benchmark restated a “buy” rating and set a $35.00 target price on shares of Frontier Communications Parent in a report on Thursday, December 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Frontier Communications Parent from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Check Out Our Latest Research Report on FYBR

Frontier Communications Parent Profile

(Free Report)

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services 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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Institutional Ownership by Quarter for Frontier Communications Parent (NASDAQ:FYBR)

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