Frontier Communications Parent (NASDAQ:FYBR) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Frontier Communications Parent (NASDAQ:FYBR) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports. Citigroup currently has $30.00 price objective on the stock, up from their prior price objective of $28.00.

Separately, Bank of America began coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a buy rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $27.43.

Frontier Communications Parent Stock Performance

NASDAQ:FYBR opened at $22.75 on Monday. Frontier Communications Parent has a 12 month low of $11.65 and a 12 month high of $25.89. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $5.65 billion, a PE ratio of 189.58 and a beta of 1.05. The business’s fifty day moving average price is $23.46 and its 200 day moving average price is $22.11.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. On average, sell-side analysts anticipate that Frontier Communications Parent will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

A number of institutional investors have recently modified their holdings of FYBR. JANA Partners Management LP acquired a new position in Frontier Communications Parent in the third quarter valued at $129,569,000. State Street Corp grew its holdings in shares of Frontier Communications Parent by 97.5% during the third quarter. State Street Corp now owns 6,134,736 shares of the company’s stock worth $143,737,000 after buying an additional 3,028,313 shares during the last quarter. Norges Bank acquired a new position in Frontier Communications Parent in the 4th quarter valued at about $54,468,000. Capital International Investors raised its stake in Frontier Communications Parent by 19.8% during the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock valued at $303,091,000 after acquiring an additional 1,809,275 shares during the last quarter. Finally, Glendon Capital Management LP lifted its position in Frontier Communications Parent by 6.2% during the 3rd quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock worth $378,979,000 after acquiring an additional 1,417,609 shares during the period.

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.