Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $35.38 Consensus Target Price from Analysts

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $35.38.

A number of brokerages recently issued reports on FYBR. The Goldman Sachs Group upped their price objective on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 6th. Moffett Nathanson lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Finally, Citigroup boosted their price objective on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after purchasing an additional 108,344 shares during the period. Capital International Investors lifted its stake in shares of Frontier Communications Parent by 0.5% during the first quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock valued at $426,677,000 after acquiring an additional 92,944 shares during the period. Canada Pension Plan Investment Board lifted its position in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after purchasing an additional 1,462,646 shares during the period. Dimensional Fund Advisors LP boosted its stake in Frontier Communications Parent by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after acquiring an additional 1,587,145 shares during the last quarter. Finally, Luxor Capital Group LP lifted its stake in shares of Frontier Communications Parent by 1.6% in 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 during the period.

Frontier Communications Parent Stock Down 0.1 %

FYBR opened at $35.32 on Tuesday. The company has a market capitalization of $8.78 billion, a PE ratio of 321.09 and a beta of 1.10. The business has a 50-day moving average of $31.71 and a 200-day moving average of $27.52. Frontier Communications Parent has a fifty-two week low of $14.97 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. Frontier Communications Parent’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Frontier Communications Parent will post -0.79 EPS for the current fiscal year.

About Frontier Communications Parent

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.