Moffett Nathanson cut shares of Frontier Communications Parent (NASDAQ:FYBR – Free Report) from a strong-buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.
Several other research analysts have also commented on FYBR. UBS Group started coverage on shares of Frontier Communications Parent in a research note on Thursday, July 18th. They issued a buy rating and a $33.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the company an overweight rating in a research report on Monday, August 5th. Benchmark reaffirmed a buy rating and set a $37.00 price objective on shares of Frontier Communications Parent in a research report on Thursday. The Goldman Sachs Group upped their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a report on Monday, August 5th. Finally, Citigroup lifted their price objective on Frontier Communications Parent from $32.00 to $35.00 and gave the company a buy rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $34.94.
Read Our Latest Stock Report on FYBR
Frontier Communications Parent Price Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Frontier Communications Parent will post -0.79 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of FYBR. Creative Planning lifted its position in Frontier Communications Parent by 23.4% in the second quarter. Creative Planning now owns 11,842 shares of the company’s stock valued at $310,000 after acquiring an additional 2,247 shares during the last quarter. Algert Global LLC boosted its position in shares of Frontier Communications Parent by 12.8% in the 2nd quarter. Algert Global LLC now owns 42,594 shares of the company’s stock valued at $1,115,000 after purchasing an additional 4,824 shares during the period. Luxor Capital Group LP grew its stake in Frontier Communications Parent by 1.6% during the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after buying an additional 43,542 shares during the last quarter. AQR Capital Management LLC acquired a new position in Frontier Communications Parent during the second quarter worth approximately $269,000. Finally, Aristeia Capital L.L.C. lifted its stake in Frontier Communications Parent by 1.9% in the second quarter. Aristeia Capital L.L.C. now owns 1,260,024 shares of the company’s stock valued at $32,987,000 after buying an additional 23,825 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.
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