Mackenzie Financial Corp Grows Stock Holdings in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Mackenzie Financial Corp boosted its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 62.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 583,940 shares of the company’s stock after purchasing an additional 225,293 shares during the period. Mackenzie Financial Corp’s holdings in Frontier Communications Parent were worth $14,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FYBR. Geneos Wealth Management Inc. acquired a new position in shares of Frontier Communications Parent in the first quarter valued at approximately $35,000. Captrust Financial Advisors raised its position 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 worth $44,000 after buying an additional 1,808 shares during the last quarter. Quarry LP acquired a new stake in shares of Frontier Communications Parent in the 1st quarter worth $44,000. American International Group Inc. purchased a new stake in shares of Frontier Communications Parent in the second quarter valued at about $60,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Frontier Communications Parent during the second quarter worth about $54,000.

Wall Street Analyst Weigh In

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

Frontier Communications Parent Trading Down 0.8 %

Shares of Frontier Communications Parent stock opened at $22.57 on Friday. The company has a 50-day moving average of $23.46 and a two-hundred day moving average of $22.12. Frontier Communications Parent, Inc. has a 12-month low of $11.65 and a 12-month 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 stock has a market cap of $5.61 billion, a PE ratio of 188.08 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last released 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. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, research analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 EPS for the current fiscal year.

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.