Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $35.31 Average PT from Analysts

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.31.

A number of analysts have weighed in on FYBR shares. Raymond James cut Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research note on Thursday, February 6th. New Street Research lowered Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a report on Tuesday, February 25th.

Frontier Communications Parent Stock Up 0.2 %

FYBR stock opened at $35.91 on Tuesday. The company’s 50 day moving average price is $35.81 and its 200 day moving average price is $35.40. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of -27.84 and a beta of 1.04. Frontier Communications Parent has a fifty-two week low of $21.31 and a fifty-two week high of $39.21. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.77 and a current ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.28). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. On average, equities research analysts anticipate that Frontier Communications Parent will post -1.11 EPS for the current fiscal year.

Insider Activity

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the transaction, the executive vice president now owns 76,523 shares of the company’s stock, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Frontier Communications Parent

A number of hedge funds have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC purchased a new stake in shares of Frontier Communications Parent during the fourth quarter worth approximately $9,148,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Frontier Communications Parent in the 4th quarter worth $9,948,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Frontier Communications Parent by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,310,952 shares of the company’s stock valued at $82,108,000 after acquiring an additional 109,648 shares in the last quarter. Alpine Associates Management Inc. increased its stake in shares of Frontier Communications Parent by 275.9% during the fourth quarter. Alpine Associates Management Inc. now owns 1,042,630 shares of the company’s stock worth $36,179,000 after acquiring an additional 765,250 shares during the period. Finally, Silphium Asset Management Ltd purchased a new position in Frontier Communications Parent during the fourth quarter worth about $10,410,000.

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.