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

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) has earned an average rating of "Hold" from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.31.

A number of brokerages have commented on FYBR. Benchmark restated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. Raymond James downgraded shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a research report on Thursday, February 6th. Finally, New Street Research downgraded shares of Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st.

Frontier Communications Parent Trading Down 0.1 %

Shares of FYBR stock traded down $0.02 during trading hours on Tuesday, reaching $35.89. 1,854,023 shares of the stock traded hands, compared to its average volume of 2,575,704. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. The firm has a market capitalization of $8.96 billion, a PE ratio of -27.82 and a beta of 1.04. Frontier Communications Parent has a 1-year low of $21.31 and a 1-year high of $39.21. The business has a fifty day moving average price of $35.82 and a 200 day moving average price of $35.40.

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Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, equities research analysts forecast that Frontier Communications Parent will post -1.11 EPS for the current year.

Insider Activity at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $36.01, for a total value of $1,296,360.00. Following the transaction, the executive vice president now directly owns 76,523 shares of the company's stock, valued at approximately $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FYBR. Victory Capital Management Inc. grew its stake in Frontier Communications Parent by 4.2% in the 3rd quarter. Victory Capital Management Inc. now owns 66,529 shares of the company's stock valued at $2,364,000 after buying an additional 2,669 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Frontier Communications Parent by 10.4% in the third quarter. Natixis Advisors LLC now owns 18,851 shares of the company's stock valued at $670,000 after purchasing an additional 1,778 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Frontier Communications Parent by 21.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,971 shares of the company's stock worth $674,000 after purchasing an additional 3,354 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Frontier Communications Parent by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company's stock worth $82,108,000 after purchasing an additional 109,648 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in Frontier Communications Parent by 106.9% during the 3rd quarter. Citigroup Inc. now owns 239,893 shares of the company's stock valued at $8,523,000 after purchasing an additional 123,939 shares during the period.

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.