Frontier Communications Parent (NASDAQ:FYBR) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a neutral rating to a buy rating in a report issued on Monday morning, MarketBeat reports. They currently have $30.00 price objective on the stock, up from their prior price objective of $28.00.

Separately, Bank of America initiated coverage on shares of Frontier Communications Parent in a report on Tuesday, April 9th. They set a buy rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent presently has a consensus rating of Moderate Buy and an average price target of $27.43.

Frontier Communications Parent Price Performance

NASDAQ FYBR opened at $23.71 on Monday. The firm’s fifty day simple moving average is $23.49 and its two-hundred day simple moving average is $22.05. 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. The firm has a market capitalization of $5.89 billion, a P/E ratio of 197.58 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last released 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 net margin of 0.50% and a return on equity of 0.56%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontier Communications Parent

Hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its holdings in Frontier Communications Parent by 120.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 975 shares of the company’s stock valued at $25,000 after purchasing an additional 532 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Frontier Communications Parent in the fourth quarter valued at $31,000. Geneos Wealth Management Inc. purchased a new stake in Frontier Communications Parent in the first quarter valued at $35,000. Captrust Financial Advisors boosted its holdings in Frontier Communications Parent by 2,698.5% in the second quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Frontier Communications Parent in the fourth quarter valued at $49,000.

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.