The stock of Frontier Communications Parent Inc. (NASDAQ:FYBR) last traded at $17.31, down -4.84% from the previous session.
Data from the available sources indicates that Frontier Communications Parent Inc. (NASDAQ:FYBR) is covered by 12 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $59.00 and a low of $18.00, we find $34.00. Given the previous closing price of $18.19, this indicates a potential upside of 86.92 percent. FYBR stock price is now -2.63% away from the 50-day moving average and -25.05% away from the 200-day moving average. The market capitalization of the company currently stands at $4.13B.
In total, 1 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $33.69 as their price target over the next twelve months.
With the price target of $27, Wolfe Research recently initiated with Outperform rating for Frontier Communications Parent Inc. (NASDAQ: FYBR).
In other news, ARES MANAGEMENT LLC, 10% Owner bought 160,844 shares of the company’s stock on May 05. The stock was bought for $3,207,953 at an average price of $19.94. Upon completion of the transaction, the 10% Owner now directly owns 38,105,498 shares in the company, valued at $659.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, 10% Owner ARES MANAGEMENT LLC bought 160,844 shares of the business’s stock. A total of $3,207,953 was incurred on buying the stock at an average price of $19.94. This leaves the insider owning 38,105,498 shares of the company worth $659.61 million. Insiders disposed of 216,211 shares of company stock worth roughly $3.74 million over the past 1 year. A total of 0.42% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FYBR stock. A new stake in Frontier Communications Parent Inc. shares was purchased by CANADA PENSION PLAN INVESTMENT BOARD during the first quarter worth $130,107,000. SIGULER GUFF ADVISERS, LLC invested $24,731,000 in shares of FYBR during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Frontier Communications Parent Inc. valued at approximately $7,018,000. CINCTIVE CAPITAL MANAGEMENT LP acquired a new stake in FYBR for approximately $6,718,000. TWINBEECH CAPITAL LP purchased a new stake in FYBR valued at around $6,522,000 in the second quarter. In total, there are 328 active investors with 102.72% ownership of the company’s stock.
With an opening price of $18.00 on Monday morning, Frontier Communications Parent Inc. (NASDAQ: FYBR) set off the trading day. During the past 12 months, Frontier Communications Parent Inc. has had a low of $14.49 and a high of $30.83. As of last week, the company has a debt-to-equity ratio of 1.91, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for FYBR is $17.70 and a two-hundred day moving average price translates $23.06 for the stock.
The latest earnings results from Frontier Communications Parent Inc. (NASDAQ: FYBR) was released for Mar, 2023. According to the Telecom Services Company, earnings per share came in at $0.01, missing analysts’ expectations of $0.09 by -0.08. This compares to $0.27 EPS in the same period last year. The net profit margin was 6.60% and return on equity was 7.60% for FYBR. The company reported revenue of $1.44 billion for the quarter, compared to $1.45 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.48 percent. For the current quarter, analysts expect FYBR to generate $1.44B in revenue.
Frontier Communications Parent Inc.(FYBR) 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.
