Analysts Set Frontier Communications Parent, Inc. (NASDAQ:FYBR) Target Price at $35.31

Frontier Communications Parent, Inc. (NASDAQ:FYBR) has received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.31.

A number of equities analysts have recently commented on the stock. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research report on Monday, October 14th. Raymond James lowered Frontier Communications Parent from a “strong-buy” rating to a “market perform” rating in a research note on Monday. Moffett Nathanson lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Benchmark reissued a “buy” rating and set a $37.00 target price on shares of Frontier Communications Parent in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $38.50 in a research report on Tuesday, September 17th.

Institutional Investors Weigh In On Frontier Communications Parent

Several institutional investors have recently bought and sold shares of FYBR. Vanguard Group Inc. grew its stake in shares of Frontier Communications Parent by 0.5% during the first quarter. Vanguard Group Inc. now owns 24,072,547 shares of the company’s stock worth $589,777,000 after acquiring an additional 108,344 shares during the last quarter. Capital International Investors grew its position in Frontier Communications Parent by 0.5% during the 1st quarter. Capital International Investors now owns 17,415,371 shares of the company’s stock worth $426,677,000 after purchasing an additional 92,944 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Frontier Communications Parent by 12.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock worth $335,257,000 after purchasing an additional 1,462,646 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Frontier Communications Parent by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares in the last quarter. Finally, Luxor Capital Group LP raised its holdings in shares of Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock worth $73,208,000 after buying an additional 43,542 shares during the last quarter.

Frontier Communications Parent Stock Performance

Shares of Frontier Communications Parent stock opened at $35.93 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.19. The stock’s fifty day moving average is $34.42 and its two-hundred day moving average is $28.99. Frontier Communications Parent has a 52 week low of $16.30 and a 52 week high of $39.21. The company has a market capitalization of $8.95 billion, a PE ratio of -97.11 and a beta of 1.10.

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

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.