Federated Hermes Inc., an institutional investor, recently disclosed its purchase of 36,685 shares of Frontier Communications Parent, Inc. (FYBR:NSD) in the third quarter, valued at around $860,000. Several other institutional investors and hedge funds also modified their positions in the company.
FYBR Stock Price Analysis:
FBYR stock opened at $23.73 on Tuesday, down by 2.5%. The company has a market capitalization of $5.81 billion, a P/E ratio of 13.26, and a beta of 0.90. Its debt-to-equity ratio is 1.77, and it has a current ratio and a quick ratio of 1.13.
FYBR stock’s 1-year low is $20.83, while the 1-year high is $30.83. The company’s fifty-day moving average price is $27.97, and the 200-day moving average price is $25.58.
As per Stock Traget Advisor’s data, the company has a consensus rating of “Strong Buy” and an average target price of $32.78.
FYBR Stock-Quarterly Earnings Review:
Frontier Communications Parent reported a quarterly EPS of $0.63 on February 24th, exceeding analysts’ estimates of $0.24 by $0.39. The company had revenue of $1.44 billion for the quarter, compared to analysts’ estimates of $1.43 billion.
Frontier Communications Parent’s revenue for the quarter decreased by 6.9% year-over-year, with a return on equity of 9.03% and a net margin of 7.62%. For the current fiscal year, analysts predict that the company will post earnings of $0.45 per share.
FYBR Stock-Analyst Ratings:
Several research firms have issued reports on the company, with Morgan Stanley raising their price target from $22.00 to $23.00 and giving the FYBR stock an “equal weight”.
Credit Suisse Group reaffirmed a “neutral” rating and issued a $25.00 price target on Frontier Communications Parent’s shares.
Cowen lifted their price target on the stock from $40.00 to $41.00 and gave it an “outperform” rating.
Finally, Raymond James upgraded Frontier Communications Parent from an “outperform” rating to a “Strong Buy” rating and raised the FYBR stock price target from $36.00 to $37.00.
Company Profile:
Frontier Communications Parent, Inc., together with its subsidiaries, provides communication and technology services in the United States. It offers data and Internet, voice, video, and other services.
The company was formerly known as Frontier Communications Corporation and changed its name to Frontier Communications Parent, Inc. in April 2021. Frontier Communications Parent, Inc. was incorporated in 1935 and is based in Norwalk, Connecticut.
