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.

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) have received an average rating of "Reduce" from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $38.1250.

Hedge Funds Weigh In On Frontier Communications Parent

A number of hedge funds and other institutional investors have recently bought and sold shares of FYBR. Geneos Wealth Management Inc. grew its holdings in Frontier Communications Parent by 957.5% during the first quarter. Geneos Wealth Management Inc. now owns 772 shares of the company's stock worth $28,000 after purchasing an additional 699 shares during the period. Brooklyn Investment Group grew its holdings in Frontier Communications Parent by 46.1% during the first quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock worth $41,000 after purchasing an additional 359 shares during the period. Parallel Advisors LLC grew its holdings in Frontier Communications Parent by 360.7% during the first quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock worth $70,000 after purchasing an additional 1,533 shares during the period. Longfellow Investment Management Co. LLC bought a new position in Frontier Communications Parent during the first quarter worth about $74,000. Finally, Lazard Asset Management LLC bought a new position in Frontier Communications Parent during the fourth quarter worth about $76,000.

Frontier Communications Parent Stock Up 0.3%

Shares of NASDAQ FYBR traded up $0.12 during mid-day trading on Friday, hitting $37.04. The company had a trading volume of 1,962,478 shares, compared to its average volume of 2,677,708. The company has a market capitalization of $9.27 billion, a PE ratio of -23.90 and a beta of 0.95. The firm has a 50-day simple moving average of $36.69 and a two-hundred day simple moving average of $36.30. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. Frontier Communications Parent has a one year low of $27.95 and a one year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the business earned ($0.49) EPS. Frontier Communications Parent's revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that Frontier Communications Parent will post -1.11 EPS 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.