Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 204.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 45,490 shares of the company’s stock after acquiring an additional 30,553 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Frontier Communications Parent were worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Frontier Communications Parent during the 1st quarter valued at $35,000. Captrust Financial Advisors raised its stake in Frontier Communications Parent by 2,698.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares during the period. Quarry LP acquired a new stake in Frontier Communications Parent during the 1st quarter valued at $44,000. Sunbelt Securities Inc. acquired a new stake in Frontier Communications Parent during the 2nd quarter valued at $54,000. Finally, American International Group Inc. acquired a new stake in Frontier Communications Parent during the 2nd quarter valued at $60,000.

Frontier Communications Parent Trading Down 2.2 %

NASDAQ FYBR opened at $23.87 on Friday. Frontier Communications Parent, Inc. has a 1-year low of $11.65 and a 1-year high of $25.89. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $5.93 billion, a PE ratio of 198.92 and a beta of 1.05. The firm’s fifty day simple moving average is $23.50 and its 200-day simple moving average is $21.95.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.63 earnings per share. Frontier Communications Parent’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America started coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus target price of $25.57.

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.