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

Frontier Communications Parent (NASDAQ:FYBR) had its price objective upped by stock analysts 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 target price would suggest a potential upside of 23.08% from the company’s previous close.

A number of other research analysts have also weighed in on FYBR. Bank of America initiated coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price target on the stock. TD Cowen dropped their price target on shares of Frontier Communications Parent from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Communications Parent currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Frontier Communications Parent Stock Down 1.1 %

Shares of Frontier Communications Parent stock traded down $0.29 during trading hours on Tuesday, reaching $26.00. The company’s stock had a trading volume of 582,778 shares, compared to its average volume of 1,661,309. Frontier Communications Parent has a one year low of $11.65 and a one year high of $27.41. The company has a market capitalization of $6.46 billion, a P/E ratio of 236.64 and a beta of 1.05. The stock’s fifty day simple moving average is $23.70 and its two-hundred day simple moving average is $22.80. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.22 and a current ratio of 1.07.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Frontier Communications Parent had a net margin of 0.47% and a return on equity of 0.52%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $0.63 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. On average, research analysts forecast that Frontier Communications Parent will post -0.2 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

A number of large investors have recently added to or reduced their stakes in FYBR. Raymond James & Associates increased its stake in shares of Frontier Communications Parent by 123.5% in the third quarter. Raymond James & Associates now owns 48,642 shares of the company’s stock worth $761,000 after purchasing an additional 26,877 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Frontier Communications Parent in the third quarter worth about $234,000. New York State Teachers Retirement System increased its stake in shares of Frontier Communications Parent by 11.4% in the third quarter. New York State Teachers Retirement System now owns 171,708 shares of the company’s stock worth $2,687,000 after purchasing an additional 17,555 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Frontier Communications Parent by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,028 shares of the company’s stock worth $548,000 after purchasing an additional 3,592 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Frontier Communications Parent by 1,282.2% in the third quarter. Mackenzie Financial Corp now owns 358,647 shares of the company’s stock worth $5,613,000 after purchasing an additional 332,700 shares in the last quarter.

Frontier Communications Parent Company Profile

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.