Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $36.89.
Several research analysts have issued reports on FYBR shares. Truist Financial assumed coverage on shares of Frontier Communications Parent in a report on Tuesday, March 15th. They set a “buy” rating and a $40.00 price target for the company. Citigroup assumed coverage on shares of Frontier Communications Parent in a research report on Tuesday. They issued a “buy” rating and a $36.00 price target for the company. The Goldman Sachs Group upgraded shares of Frontier Communications Parent from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, January 11th. Wells Fargo & Company began coverage on shares of Frontier Communications Parent in a research note on Thursday, April 7th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Benchmark cut their price target on shares of Frontier Communications Parent from $56.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, February 24th.
A number of hedge funds have recently made changes to their positions in the stock. Magnolia Group LLC lifted its stake in Frontier Communications Parent by 4.7% in the first quarter. Magnolia Group LLC now owns 3,981,500 shares of the company’s stock worth $110,168,000 after acquiring an additional 177,000 shares during the period. TCW Group Inc. lifted its stake in Frontier Communications Parent by 26.1% in the first quarter. TCW Group Inc. now owns 216,501 shares of the company’s stock worth $5,990,000 after acquiring an additional 44,852 shares during the period. Walleye Capital LLC purchased a new stake in Frontier Communications Parent in the fourth quarter worth $495,000. BlackRock Inc. lifted its stake in Frontier Communications Parent by 15.9% in the fourth quarter. BlackRock Inc. now owns 5,940,340 shares of the company’s stock worth $175,181,000 after acquiring an additional 815,511 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Frontier Communications Parent by 265.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 687,500 shares of the company’s stock worth $20,274,000 after acquiring an additional 499,225 shares during the period. 92.83% of the stock is owned by institutional investors.
Frontier Communications Parent (NASDAQ:FYBR – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.28. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.57 billion. Frontier Communications Parent had a net margin of 77.29% and a return on equity of 235.87%. The firm’s revenue was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Frontier Communications Parent will post 1 earnings per share for the current year.
Frontier Communications Parent Company Profile (Get Rating)
Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states in the United States. It offers data and Internet, voice, video, and other services. The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc in April 2021.
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