Frontier Communications Parent (NASDAQ:FYBR) Cut to “Peer Perform” at Wolfe Research

Wolfe Research cut shares of Frontier Communications Parent (NASDAQ:FYBR) from an outperform rating to a peer perform rating in a report published on Monday morning, Marketbeat.com reports.

A number of other equities research analysts also recently commented on FYBR. JPMorgan Chase & Co. downgraded Frontier Communications Parent from an overweight rating to a neutral rating and lifted their target price for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Benchmark reaffirmed a buy rating and issued a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Wells Fargo & Company reiterated an equal weight rating and issued a $38.50 price objective (up previously from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Citigroup boosted their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research report on Thursday, August 8th. Finally, UBS Group downgraded Frontier Communications Parent from a strong-buy rating to a hold rating in a research report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has a consensus rating of Moderate Buy and a consensus target price of $35.38.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $35.42 on Monday. The company has a 50 day moving average price of $31.40 and a 200 day moving average price of $27.33. The firm has a market capitalization of $8.80 billion, a P/E ratio of 322.00 and a beta of 1.10. 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.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) EPS 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 analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts expect that Frontier Communications Parent will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Frontier Communications Parent by 0.5% in the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock valued at $589,777,000 after purchasing an additional 108,344 shares during the period. Capital International Investors boosted its holdings in Frontier Communications Parent by 0.5% in the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after buying an additional 92,944 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Frontier Communications Parent by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after buying an additional 1,462,646 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after buying an additional 1,587,145 shares in the last quarter. Finally, Luxor Capital Group LP raised its holdings in shares of Frontier Communications Parent by 1.6% during the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after acquiring an additional 43,542 shares during the last quarter.

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.