TD Cowen Trims Frontier Communications Parent (NASDAQ:FYBR) Target Price to $39.00

Frontier Communications Parent (NASDAQ:FYBR) had its price objective lowered by TD Cowen from $41.00 to $39.00 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on FYBR. Citigroup upgraded shares of Frontier Communications Parent from a neutral rating to a buy rating and lifted their price target for the stock from $28.00 to $30.00 in a research report on Monday, April 15th. Bank of America initiated coverage on shares of Frontier Communications Parent in a 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 seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $29.13.

Frontier Communications Parent Stock Performance

Frontier Communications Parent stock opened at $25.36 on Monday. Frontier Communications Parent has a 12-month low of $11.65 and a 12-month high of $27.41. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 230.55 and a beta of 1.05. The company has a quick ratio of 1.22, a current ratio of 1.07 and a debt-to-equity ratio of 2.14. The stock has a 50-day simple moving average of $23.77 and a 200 day simple moving average of $22.87.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Frontier Communications Parent had a return on equity of 0.52% and a net margin of 0.47%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts anticipate that Frontier Communications Parent will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Communications Parent

Large investors have recently bought and sold shares of the company. Glendon Capital Management LP grew its stake in shares of Frontier Communications Parent by 6.2% in the third quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock valued at $378,979,000 after buying an additional 1,417,609 shares in the last quarter. Vanguard Group Inc. increased its stake in Frontier Communications Parent by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock worth $607,253,000 after acquiring an additional 136,350 shares during the period. Capital International Investors raised its holdings in Frontier Communications Parent by 0.3% in the 4th quarter. Capital International Investors now owns 17,322,427 shares of the company’s stock valued at $438,950,000 after acquiring an additional 44,579 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Frontier Communications Parent by 14.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 9,814,910 shares of the company’s stock worth $153,603,000 after purchasing an additional 1,250,000 shares in the last quarter. Finally, JANA Partners Management LP bought a new position in shares of Frontier Communications Parent in the third quarter worth $129,569,000.

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.