Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $35.31 Average PT from Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $35.31.

Several research firms recently weighed in on FYBR. New Street Research downgraded shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research note on Tuesday, February 25th. Finally, Raymond James lowered shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $35.86 on Tuesday. The company has a 50-day moving average price of $35.82 and a two-hundred day moving average price of $35.40. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -27.80 and a beta of 1.04. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent has a 52 week low of $21.31 and a 52 week high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Analysts forecast that Frontier Communications Parent will post -1.11 EPS for the current year.

Insider Activity

In other news, EVP John Harrobin sold 36,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the sale, the executive vice president now directly owns 76,523 shares of the company’s stock, valued at $2,755,593.23. The trade was a 31.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors have recently bought and sold shares of FYBR. Norges Bank acquired a new position in shares of Frontier Communications Parent in the fourth quarter worth about $191,247,000. Tudor Investment Corp ET AL purchased a new stake in shares of Frontier Communications Parent in the 4th quarter valued at approximately $114,555,000. Adage Capital Partners GP L.L.C. boosted its stake in Frontier Communications Parent by 472.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,149,714 shares of the company’s stock worth $109,295,000 after purchasing an additional 2,599,714 shares during the period. Sona Asset Management US LLC purchased a new position in Frontier Communications Parent during the 4th quarter worth approximately $51,179,000. Finally, FIL Ltd acquired a new stake in Frontier Communications Parent during the 4th quarter valued at $49,228,000.

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.