Frontier Communications Parent, Inc. (NASDAQ:FYBR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR) have received an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.20.

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Frontier Communications Parent from $18.00 to $16.00 and set an “underweight” rating for the company in a research note on Tuesday, September 5th. 500.com reiterated an “initiates” rating on shares of Frontier Communications Parent in a research note on Tuesday, June 27th. Benchmark reiterated a “buy” rating and issued a $35.00 price objective on shares of Frontier Communications Parent in a research note on Tuesday, August 29th. JPMorgan Chase & Co. reduced their price objective on Frontier Communications Parent from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wolfe Research assumed coverage on Frontier Communications Parent in a research note on Tuesday, June 27th. They set an “outperform” rating and a $27.00 price target for the company.

Insider Buying and Selling at Frontier Communications Parent

In other news, major shareholder Ares Management Llc bought 150,000 shares of the stock in a transaction on Monday, September 11th. The shares were bought at an average price of $14.52 per share, with a total value of $2,178,000.00. Following the completion of the acquisition, the insider now owns 38,512,895 shares of the company’s stock, valued at $559,207,235.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 374,122 shares of company stock valued at $5,579,985. Insiders own 0.20% of the company’s stock.

Institutional Trading of Frontier Communications Parent

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in shares of Frontier Communications Parent by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 59,386 shares of the company’s stock valued at $1,513,000 after acquiring an additional 382 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Frontier Communications Parent by 2.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 21,129 shares of the company’s stock valued at $538,000 after acquiring an additional 440 shares in the last quarter. Covestor Ltd lifted its position in shares of Frontier Communications Parent by 19.2% in the second quarter. Covestor Ltd now owns 3,874 shares of the company’s stock valued at $72,000 after acquiring an additional 623 shares in the last quarter. CI Investments Inc. lifted its position in shares of Frontier Communications Parent by 0.3% in the fourth quarter. CI Investments Inc. now owns 244,405 shares of the company’s stock valued at $6,227,000 after acquiring an additional 675 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in Frontier Communications Parent by 0.4% during the first quarter. California State Teachers Retirement System now owns 155,920 shares of the company’s stock worth $4,314,000 after buying an additional 682 shares during the period.

Frontier Communications Parent Stock Performance

NASDAQ FYBR opened at $14.89 on Tuesday. Frontier Communications Parent has a 1-year low of $11.65 and a 1-year high of $30.83. The company has a market cap of $3.66 billion, a P/E ratio of 13.29 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50-day moving average of $16.22 and a two-hundred day moving average of $18.59.

Frontier Communications Parent (NASDAQ:FYBR) last posted its earnings results on Friday, August 4th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Frontier Communications Parent had a return on equity of 5.41% and a net margin of 4.78%. Frontier Communications Parent’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, analysts anticipate that Frontier Communications Parent will post -0.13 EPS for the current year.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services 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.