Frontier Communications Parent (NASDAQ:FYBR) Given New $35.00 Price Target at Citigroup

Frontier Communications Parent (NASDAQ:FYBR) had its price target upped by Citigroup from $32.00 to $35.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the stock an overweight rating in a report on Monday. UBS Group assumed coverage on shares of Frontier Communications Parent in a report on Thursday, July 18th. They set a buy rating and a $33.00 price objective on the stock. TD Cowen lowered their price objective on shares of Frontier Communications Parent from $41.00 to $39.00 and set a buy rating on the stock in a report on Monday, May 6th. Finally, The Goldman Sachs Group increased their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a buy rating in a report on Monday. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Frontier Communications Parent has an average rating of Moderate Buy and a consensus price target of $31.88.

Frontier Communications Parent Trading Up 0.3 %

Shares of NASDAQ:FYBR traded up $0.09 during trading on Thursday, reaching $28.03. The stock had a trading volume of 2,025,800 shares, compared to its average volume of 1,589,864. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.07 and a current ratio of 1.07. Frontier Communications Parent has a 52 week low of $13.66 and a 52 week high of $29.47. The firm’s fifty day moving average is $26.52 and its 200 day moving average is $24.96. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 254.82 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a return on equity of 0.52% and a net margin of 0.47%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted ($0.01) EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its position in Frontier Communications Parent by 62.8% during the fourth quarter. Mackenzie Financial Corp now owns 583,940 shares of the company’s stock valued at $14,797,000 after buying an additional 225,293 shares during the period. Capstone Investment Advisors LLC bought a new position in Frontier Communications Parent during the first quarter valued at about $1,817,000. Norges Bank bought a new position in Frontier Communications Parent during the fourth quarter valued at about $50,269,000. Sunriver Management LLC bought a new position in Frontier Communications Parent during the fourth quarter valued at about $16,255,000. Finally, NBC Securities Inc. grew its position in Frontier Communications Parent by 26,121.9% during the first quarter. NBC Securities Inc. now owns 87,581 shares of the company’s stock valued at $2,145,000 after buying an additional 87,247 shares during the period.

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.