Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $24.83 Average Price Target from Analysts

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.57.

Separately, Bank of America initiated coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company.

Frontier Communications Parent Trading Down 2.2 %

NASDAQ FYBR opened at $23.87 on Tuesday. The stock has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $21.95. The company has a market capitalization of $5.93 billion, a PE ratio of 198.92 and a beta of 1.05. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13. Frontier Communications Parent has a 12 month low of $11.65 and a 12 month high of $25.89.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CI Investments Inc. raised its stake in Frontier Communications Parent by 48.3% in the third quarter. CI Investments Inc. now owns 385,383 shares of the company’s stock valued at $6,031,000 after buying an additional 125,525 shares during the period. Vanguard Group Inc. increased its stake in shares of Frontier Communications Parent by 0.5% during the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after purchasing an additional 118,939 shares during the period. Tudor Investment Corp Et Al increased its stake in shares of Frontier Communications Parent by 63.4% during the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after purchasing an additional 140,943 shares during the period. American Century Companies Inc. increased its stake in shares of Frontier Communications Parent by 83.9% during the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after purchasing an additional 704,857 shares during the period. Finally, Moody National Bank Trust Division bought a new position in shares of Frontier Communications Parent during the third quarter worth approximately $2,157,000.

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.