Frontier Communications Parent, Inc. (NASDAQ:FYBR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.94.

Several equities research analysts have commented on the stock. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. The Goldman Sachs Group lifted their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Citigroup raised their target price on Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FYBR. International Assets Investment Management LLC acquired a new stake in shares of Frontier Communications Parent during the fourth quarter worth $1,541,000. Victory Capital Management Inc. raised its holdings in Frontier Communications Parent by 61.6% in the 4th quarter. Victory Capital Management Inc. now owns 63,657 shares of the company’s stock valued at $1,613,000 after acquiring an additional 24,258 shares during the last quarter. Amalgamated Bank lifted its position in Frontier Communications Parent by 4.9% during the fourth quarter. Amalgamated Bank now owns 151,563 shares of the company’s stock worth $3,841,000 after buying an additional 7,013 shares during the period. M&T Bank Corp lifted its holdings in shares of Frontier Communications Parent by 41.2% during the 4th quarter. M&T Bank Corp now owns 16,002 shares of the company’s stock worth $406,000 after acquiring an additional 4,670 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Frontier Communications Parent by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,437 shares of the company’s stock worth $73,852,000 after purchasing an additional 252,408 shares during the period.

Frontier Communications Parent Stock Performance

Shares of FYBR opened at $35.57 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a market cap of $8.84 billion, a PE ratio of 323.36 and a beta of 1.08. Frontier Communications Parent has a 12 month low of $13.66 and a 12 month high of $39.21. The stock has a fifty day moving average price of $28.55 and a 200-day moving average price of $26.04.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.38). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. Equities research analysts predict that Frontier Communications Parent will post -0.79 earnings per share for the current fiscal 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 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.