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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $35.31.

FYBR has been the topic of several recent research reports. New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Raymond James cut shares of Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th.

Insider Activity at Frontier Communications Parent

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. New York Life Investment Management LLC acquired a new stake in Frontier Communications Parent during the fourth quarter worth about $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Frontier Communications Parent during the 4th quarter worth approximately $9,948,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Frontier Communications Parent by 5.0% in 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. Alpine Associates Management Inc. boosted its position in Frontier Communications Parent by 275.9% during the 4th quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock valued at $36,179,000 after purchasing an additional 765,250 shares during the period. Finally, Silphium Asset Management Ltd bought a new position in Frontier Communications Parent during the 4th quarter worth $10,410,000.

Frontier Communications Parent Trading Down 0.1 %

Shares of FYBR stock opened at $35.86 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28. Frontier Communications Parent has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The firm’s 50 day moving average price is $35.82 and its two-hundred day moving average price is $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.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, analysts anticipate that Frontier Communications Parent will post -1.11 EPS for the current year.

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.