Frontier Communications Parent (NASDAQ:FYBR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Frontier Communications Parent (NASDAQ:FYBRGet Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $29.00 price target on the stock.

According to Zacks, “Frontier Communications Parent Inc. offers services to residential and business customers over its fiber-optic and copper networks including video, high-speed internet, advanced voice and Frontier Secure(R) digital protection solutions. Frontier Business(TM) offers communications solutions to small, medium and enterprise businesses. Frontier Communications Parent Inc. is based in NORWALK, Conn. “

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Frontier Communications Parent in a research note on Thursday, April 7th. They issued an overweight rating and a $37.00 price objective 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 report on Tuesday, January 11th. Truist Financial started coverage on shares of Frontier Communications Parent in a research report on Tuesday, March 15th. They set a buy rating and a $40.00 target price for the company. Citigroup started coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 26th. They set a buy rating and a $36.00 target price for the company. Finally, Benchmark dropped their target price on shares of Frontier Communications Parent from $56.00 to $49.00 and set a buy rating for the company in a research report on Thursday, February 24th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $36.64.

Shares of FYBR stock opened at $25.88 on Wednesday. Frontier Communications Parent has a 52-week low of $23.24 and a 52-week high of $35.15. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average of $27.41 and a 200-day moving average of $29.24.

Frontier Communications Parent (NASDAQ:FYBRGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.28. Frontier Communications Parent had a net margin of 77.29% and a return on equity of 235.87%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. The business’s quarterly revenue was down 9.0% on a year-over-year basis. Sell-side analysts expect that Frontier Communications Parent will post 1 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in Frontier Communications Parent during the 3rd quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Frontier Communications Parent during the 3rd quarter worth approximately $31,000. C M Bidwell & Associates Ltd. bought a new position in Frontier Communications Parent during the 4th quarter worth approximately $40,000. Prospera Financial Services Inc bought a new position in Frontier Communications Parent during the 1st quarter worth approximately $43,000. Finally, Wells Fargo & Company MN bought a new position in Frontier Communications Parent during the 2nd quarter worth approximately $109,000. 93.50% of the stock is currently owned by institutional investors.

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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