Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $27.43 Average Price Target from Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.88.

A number of research analysts have weighed in on FYBR shares. TD Cowen cut their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $30.00 in a report on Monday, April 15th. Finally, Bank of America started coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective for the company.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of FYBR. Raymond James & Associates boosted its position in Frontier Communications Parent by 123.5% during the third quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock worth $761,000 after acquiring an additional 26,877 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Frontier Communications Parent during the third quarter worth about $234,000. New York State Teachers Retirement System raised its stake in Frontier Communications Parent by 11.4% during the third quarter. New York State Teachers Retirement System now owns 171,708 shares of the company’s stock worth $2,687,000 after purchasing an additional 17,555 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Frontier Communications Parent by 11.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock worth $548,000 after purchasing an additional 3,592 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Frontier Communications Parent by 1,282.2% during the third quarter. Mackenzie Financial Corp now owns 358,647 shares of the company’s stock worth $5,613,000 after purchasing an additional 332,700 shares during the period.

Frontier Communications Parent Trading Up 2.6 %

Shares of Frontier Communications Parent stock opened at $26.29 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.07 and a quick ratio of 1.22. The firm has a fifty day moving average price of $23.66 and a 200 day moving average price of $22.75. Frontier Communications Parent has a 1 year low of $11.65 and a 1 year high of $27.41. The stock has a market cap of $6.53 billion, a PE ratio of 239.00 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Equities research analysts predict that Frontier Communications Parent will post -0.2 earnings per share for the current 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.