Brokerages Set Frontier Communications Parent, Inc. (NASDAQ:FYBR) PT at $35.31

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have earned an average rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.31.

A number of research analysts have recently issued reports on FYBR shares. Wolfe Research downgraded Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and raised their price target for the company from $35.00 to $38.50 in a report on Tuesday, September 17th. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, TD Cowen cut shares of Frontier Communications Parent from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $38.50 in a research report on Tuesday, October 8th.

Frontier Communications Parent Stock Up 0.2 %

NASDAQ:FYBR opened at $34.87 on Wednesday. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $8.68 billion, a PE ratio of -46.49 and a beta of 1.10. The company has a 50-day moving average of $35.37 and a 200 day moving average of $30.38. Frontier Communications Parent has a 1-year low of $20.42 and a 1-year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.11). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative net margin of 3.19% and a negative return on equity of 3.61%. Frontier Communications Parent’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. As a group, research analysts anticipate that Frontier Communications Parent will post -0.83 EPS for the current fiscal year.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 23,491 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $34.85, for a total value of $818,661.35. Following the completion of the transaction, the executive vice president now directly owns 121,182 shares of the company’s stock, valued at approximately $4,223,192.70. This represents a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Communications Parent

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new position in Frontier Communications Parent in the third quarter worth approximately $50,000. Meeder Asset Management Inc. acquired a new stake in Frontier Communications Parent during the third quarter worth $52,000. Farther Finance Advisors LLC raised its position in Frontier Communications Parent by 80.8% in the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock valued at $64,000 after purchasing an additional 811 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Frontier Communications Parent by 224,400.0% in the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after purchasing an additional 2,244 shares during the last quarter.

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.