Frontier Communications Parent, Inc. (NASDAQ:FYBR) Given Average Rating of "Reduce" by Brokerages

Key Points

• Frontier Communications Parent, Inc. has received an average rating of "Reduce" from eleven brokerages, with one sell rating and ten hold ratings, reflecting cautious sentiment among analysts.
• Institutional investors are actively engaging with the stock; Norges Bank recently acquired a new stake worth $207.59 million, exemplifying significant investment interest.
• The company's recent quarterly earnings report showed a miss on EPS estimates at ($0.49), although revenue rose by 4% compared to the previous year.

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) has been given a consensus rating of "Reduce" by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.1250.

Institutional Investors Weigh In On Frontier Communications Parent

Several institutional investors and hedge funds have recently added to or reduced their stakes in FYBR. Norges Bank purchased a new stake in shares of Frontier Communications Parent during the second quarter worth $207,593,000. Pentwater Capital Management LP acquired a new stake in shares of Frontier Communications Parent during the 1st quarter worth approximately $161,370,000. Tudor Investment Corp ET AL purchased a new stake in Frontier Communications Parent in the fourth quarter valued at $114,555,000. Balyasny Asset Management L.P. raised its holdings in Frontier Communications Parent by 130.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company's stock valued at $165,708,000 after buying an additional 2,577,691 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Frontier Communications Parent by 52.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company's stock valued at $227,067,000 after acquiring an additional 2,157,594 shares during the period.

Frontier Communications Parent Price Performance

Shares of FYBR opened at $36.89 on Friday. The company has a market capitalization of $9.23 billion, a P/E ratio of -23.80 and a beta of 0.95. Frontier Communications Parent has a fifty-two week low of $27.67 and a fifty-two week high of $39.21. The business's 50-day moving average is $36.63 and its two-hundred day moving average is $36.27. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.36 and a current ratio of 0.36.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company's revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.49) earnings per share. Research analysts predict that Frontier Communications Parent will post -1.11 earnings per share for the current year.

About Frontier Communications Parent

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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