Frontier Communications Parent (NASDAQ:FYBR) Price Target Raised to $32.00 at Citigroup

Frontier Communications Parent (NASDAQ:FYBR) had its price objective lifted by equities researchers at Citigroup from $30.00 to $32.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 26.18% from the stock’s current price.

Several other research analysts have also issued reports on the stock. TD Cowen cut their target price on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America assumed coverage on Frontier Communications Parent in a research note on Tuesday, April 9th. They issued a “buy” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $25.36 on Tuesday. The company has a market cap of $6.30 billion, a P/E ratio of 230.55 and a beta of 1.05. The company has a current ratio of 1.07, a quick ratio of 1.22 and a debt-to-equity ratio of 2.14. The business has a 50-day moving average price of $23.74 and a two-hundred day moving average price of $22.85. Frontier Communications Parent has a 1-year low of $11.65 and a 1-year high of $27.41.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.52% and a net margin of 0.47%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, analysts anticipate that Frontier Communications Parent will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Several large investors have recently added to or reduced their stakes in FYBR. Russell Investments Group Ltd. raised its stake in shares of Frontier Communications Parent by 140.9% in the first quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after purchasing an additional 2,461 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Frontier Communications Parent in the 1st quarter valued at $595,000. Reaves W H & Co. Inc. bought a new position in Frontier Communications Parent during the 1st quarter valued at $20,200,000. Quantbot Technologies LP bought a new position in Frontier Communications Parent during the 1st quarter valued at $582,000. Finally, Texas Permanent School Fund Corp boosted its holdings in Frontier Communications Parent by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 193,601 shares of the company’s stock worth $4,743,000 after acquiring an additional 2,798 shares during the last quarter.

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.