Louisiana State Employees Retirement System Invests $1.57 Million in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

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

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in Frontier Communications Parent during the first quarter valued at approximately $35,000. Captrust Financial Advisors increased its holdings in Frontier Communications Parent by 2,698.5% during the second quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after buying an additional 1,808 shares during the period. Quarry LP purchased a new position in Frontier Communications Parent during the first quarter valued at approximately $44,000. American International Group Inc. purchased a new position in Frontier Communications Parent during the second quarter valued at approximately $60,000. Finally, Sunbelt Securities Inc. purchased a new position in Frontier Communications Parent during the second quarter valued at approximately $54,000.

Frontier Communications Parent Trading Down 3.9 %

NASDAQ:FYBR opened at $21.70 on Friday. Frontier Communications Parent, Inc. has a 12 month low of $11.65 and a 12 month high of $25.89. The firm has a fifty day simple moving average of $23.44 and a 200-day simple moving average of $22.17. 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 $5.39 billion, a P/E ratio of 180.83 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FYBR has been the topic of several research reports. Bank of America assumed coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set 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 lifted their price target for the stock from $28.00 to $30.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.43.

Frontier Communications Parent 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.