Frontier Communications Parent (NASDAQ:FYBR) Hits New 12-Month Low at $15.47

Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating)’s share price reached a new 52-week low on Wednesday . The company traded as low as $15.47 and last traded at $15.47, with a volume of 123578 shares. The stock had previously closed at $16.26.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FYBR. Morgan Stanley lowered Frontier Communications Parent from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $23.00 to $19.00 in a report on Monday, March 27th. Raymond James upgraded Frontier Communications Parent from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $36.00 to $37.00 in a report on Monday, February 27th. Citigroup reduced their price target on Frontier Communications Parent from $34.00 to $30.00 in a research report on Monday, May 8th. Credit Suisse Group reaffirmed a “neutral” rating and set a $25.00 price target on shares of Frontier Communications Parent in a research report on Monday, February 27th. Finally, Cowen upped their price target on Frontier Communications Parent from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.43.

Frontier Communications Parent Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.91. The firm has a 50-day moving average of $20.70 and a 200-day moving average of $24.46. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.97 and a beta of 0.79.

Frontier Communications Parent (NASDAQ:FYBR – Get Rating) last released its earnings results on Friday, May 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Frontier Communications Parent had a net margin of 6.56% and a return on equity of 7.57%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company earned $0.26 earnings per share. Frontier Communications Parent’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Frontier Communications Parent, Inc. will post 0.03 earnings per share for the current year.

Insider Activity at Frontier Communications Parent

In other news, major shareholder Ares Management Llc bought 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average cost of $23.85 per share, with a total value of $5,962,500.00. Following the transaction, the insider now directly owns 35,623,924 shares in the company, valued at $849,630,587.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 2,158,214 shares of company stock valued at $47,244,828 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FYBR. Ronald Blue Trust Inc. grew its position in Frontier Communications Parent by 658.7% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,138 shares of the company’s stock worth $27,000 after purchasing an additional 988 shares during the period. Financial Management Professionals Inc. acquired a new stake in Frontier Communications Parent during the 1st quarter worth about $27,000. US Bancorp DE acquired a new stake in Frontier Communications Parent during the 3rd quarter worth about $35,000. Geneos Wealth Management Inc. acquired a new stake in Frontier Communications Parent during the 1st quarter worth about $35,000. Finally, CWM LLC grew its position in Frontier Communications Parent by 58.1% during the 4th quarter. CWM LLC now owns 1,739 shares of the company’s stock worth $44,000 after purchasing an additional 639 shares during the period.

About Frontier Communications Parent

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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.