Louisiana State Employees Retirement System Purchases Shares of 62,100 Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Louisiana State Employees Retirement System purchased a new position in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,100 shares of the company's stock, valued at approximately $1,574,000.

A number of other hedge funds have also recently made changes to their positions in FYBR. Treasurer of the State of North Carolina grew its stake in shares of Frontier Communications Parent by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company's stock valued at $1,683,000 after buying an additional 550 shares during the last quarter. California State Teachers Retirement System grew its position in Frontier Communications Parent by 0.4% during the 1st quarter. California State Teachers Retirement System now owns 155,920 shares of the company's stock worth $4,314,000 after acquiring an additional 682 shares during the last quarter. First Trust Advisors LP increased its stake in Frontier Communications Parent by 0.3% in the 3rd quarter. First Trust Advisors LP now owns 222,959 shares of the company's stock worth $5,224,000 after purchasing an additional 689 shares during the period. Arizona State Retirement System boosted its stake in shares of Frontier Communications Parent by 1.4% during the third quarter. Arizona State Retirement System now owns 52,395 shares of the company's stock valued at $820,000 after purchasing an additional 736 shares during the period. Finally, BOKF NA grew its holdings in shares of Frontier Communications Parent by 13.8% in the second quarter. BOKF NA now owns 7,628 shares of the company's stock worth $142,000 after purchasing an additional 923 shares during the last quarter.

Frontier Communications Parent Stock Down 3.9 %

FYBR stock traded down $0.87 during trading on Friday, hitting $21.70. 2,557,642 shares of the stock traded hands, compared to its average volume of 1,287,637. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 180.83 and a beta of 1.05. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. Frontier Communications Parent, Inc. has a 1 year low of $11.65 and a 1 year high of $25.89. The firm's 50 day moving average is $23.44 and its two-hundred day moving average is $22.22.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FYBR shares. Bank of America began coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a "buy" rating and a $30.00 price objective on the stock. Citigroup raised shares of Frontier Communications Parent from a "neutral" rating to a "buy" rating and raised their target price for the company from $28.00 to $30.00 in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.43.

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.