Wealth Enhancement Advisory Services LLC Takes Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Wealth Enhancement Advisory Services LLC acquired a new position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,244 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Frontier Communications Parent by 0.5% in the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after acquiring an additional 108,344 shares in the last quarter. Capital International Investors boosted its stake in Frontier Communications Parent by 0.5% in the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after purchasing an additional 92,944 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Frontier Communications Parent by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after purchasing an additional 1,462,646 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock worth $211,758,000 after purchasing an additional 1,587,145 shares during the last quarter. Finally, Luxor Capital Group LP increased its stake in Frontier Communications Parent by 1.6% during the 2nd quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after purchasing an additional 43,542 shares in the last quarter.

Frontier Communications Parent Stock Down 0.7 %

Shares of NASDAQ FYBR opened at $34.15 on Wednesday. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of -45.53 and a beta of 1.10. The company’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $29.73. The company has a quick ratio of 0.87, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent, Inc. has a 52-week low of $18.92 and a 52-week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts predict that Frontier Communications Parent, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FYBR. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, September 6th. Wolfe Research lowered Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Moffett Nathanson cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.31.

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.