Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives $36.07 Consensus Price Target from Brokerages

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have received a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $36.07.

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

Insider Activity

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

Institutional Investors Weigh In On Frontier Communications Parent

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Frontier Communications Parent by 39.7% in the third quarter. Barclays PLC now owns 99,969 shares of the company’s stock worth $3,553,000 after buying an additional 28,417 shares during the period. Franklin Resources Inc. raised its holdings in Frontier Communications Parent by 0.8% in the third quarter. Franklin Resources Inc. now owns 45,059 shares of the company’s stock worth $1,588,000 after purchasing an additional 372 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Frontier Communications Parent during the fourth quarter valued at $261,000. Wedmont Private Capital grew its position in shares of Frontier Communications Parent by 82.3% in the 4th quarter. Wedmont Private Capital now owns 27,882 shares of the company’s stock worth $979,000 after buying an additional 12,590 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Frontier Communications Parent by 68.0% in the 4th quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after acquiring an additional 425 shares in the last quarter.

Frontier Communications Parent Stock Up 0.1 %

Shares of NASDAQ FYBR opened at $36.15 on Friday. The business has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $35.44. The company has a market cap of $9.05 billion, a P/E ratio of -28.02 and a beta of 1.01. Frontier Communications Parent has a 52 week low of $21.85 and a 52 week high of $39.21. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.28.

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

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.