Frontier Communications Parent (NASDAQ:FYBR) Upgraded to Strong-Buy at Zacks Research

Frontier Communications Parent (NASDAQ:FYBR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Frontier Communications Parent Stock Performance

Shares of FYBR stock opened at $38.44 on Wednesday. The business’s 50-day moving average price is $38.03 and its 200-day moving average price is $37.43. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of -25.29 and a beta of 0.94. Frontier Communications Parent has a 12 month low of $35.31 and a 12 month high of $38.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business earned ($0.33) EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Frontier Communications Parent will post -1.11 EPS for the current year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in Frontier Communications Parent in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in Frontier Communications Parent by 957.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 772 shares of the company’s stock worth $28,000 after buying an additional 699 shares during the period. Danske Bank A S purchased a new stake in shares of Frontier Communications Parent in the 3rd quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Frontier Communications Parent by 469.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,138 shares of the company’s stock valued at $43,000 after purchasing an additional 938 shares in the last quarter. Finally, Covestor Ltd lifted its position in Frontier Communications Parent by 173.5% during the third quarter. Covestor Ltd now owns 1,195 shares of the company’s stock valued at $45,000 after acquiring an additional 758 shares during the last quarter.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.