Citigroup downgraded shares of Frontier Communications Parent (NASDAQ:FYBR – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.
A number of other research firms have also commented on FYBR. Wells Fargo & Company restated an equal weight rating and issued a $38.50 price objective (up from $31.00) on shares of Frontier Communications Parent in a research note on Friday, September 6th. Benchmark reaffirmed a buy rating and set a $37.00 price objective on shares of Frontier Communications Parent in a research note on Thursday, September 5th. The Goldman Sachs Group increased their price objective on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a buy rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered Frontier Communications Parent from an overweight rating to a neutral rating and boosted their target price for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Finally, Wolfe Research downgraded Frontier Communications Parent from an outperform rating to a peer perform rating in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $35.31.
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Frontier Communications Parent Stock Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Frontier Communications Parent will post -0.79 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new position in shares of Frontier Communications Parent in the 1st quarter valued at about $1,817,000. NBC Securities Inc. increased its holdings in Frontier Communications Parent by 26,121.9% in the first quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock valued at $2,145,000 after buying an additional 87,247 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Frontier Communications Parent during the 1st quarter valued at approximately $1,449,000. Redwood Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the 1st quarter worth approximately $641,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Frontier Communications Parent in the 1st quarter worth approximately $582,000.
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.
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