The price of Frontier Communications Parent Inc. (NASDAQ:FYBR) shares last traded on Wall Street rose 0.82% to $15.90.
Based on available information, 11 analysts follow Frontier Communications Parent Inc. (NASDAQ:FYBR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $62.00 and a low of $16.00, we find $33.00. Given the previous closing price of $15.77, this indicates a potential upside of 109.26 percent. FYBR stock price is now -1.53% away from the 50-day moving average and -25.02% away from the 200-day moving average. The market capitalization of the company currently stands at $4.14B.
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Among analysts, 1 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $31.91 as their price target over the next twelve months.
With the price target reduced from $30 to $17, Citigroup Downgraded its rating from Buy to Neutral for Frontier Communications Parent Inc. (NASDAQ: FYBR).
In other news, ARES MANAGEMENT LLC, 10% Owner bought 100,000 shares of the company’s stock on Sep 15. The stock was bought for $1,478,850 at an average price of $14.79. Upon completion of the transaction, the 10% Owner now directly owns 38,612,895 shares in the company, valued at $613.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, 10% Owner ARES MANAGEMENT LLC bought 100,000 shares of the business’s stock. A total of $1,478,850 was incurred on buying the stock at an average price of $14.79. This leaves the insider owning 38,612,895 shares of the company worth $613.95 million. Insiders disposed of 215,015 shares of company stock worth roughly $3.42 million over the past 1 year. A total of 0.39% 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 POINTSTATE CAPITAL LP during the first quarter worth $28,161,000. POINT72 ASSET MANAGEMENT, L.P. invested $11,040,000 in shares of FYBR during the first quarter. In the first quarter, CITADEL ADVISORS LLC acquired a new stake in Frontier Communications Parent Inc. valued at approximately $6,415,000. WOODLINE PARTNERS LP acquired a new stake in FYBR for approximately $3,924,000. SIMPLEX TRADING, LLC purchased a new stake in FYBR valued at around $2,006,000 in the second quarter. In total, there are 347 active investors with 103.92% ownership of the company’s stock.
A candlestick chart of Frontier Communications Parent Inc. (NASDAQ: FYBR) showed a price of $15.51 on Thursday morning. During the past 12 months, Frontier Communications Parent Inc. has had a low of $11.65 and a high of $30.83. As of last week, the company has a debt-to-equity ratio of 1.90, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for FYBR is $16.12 and a two-hundred day moving average price translates $21.15 for the stock.
The latest earnings results from Frontier Communications Parent Inc. (NASDAQ: FYBR) was released for Jun, 2023. According to the Telecom Services Company, earnings per share came in at -$0.01, beating analysts’ expectations of -$0.02 by 0.01. This compares to $0.41 EPS in the same period last year. The net profit margin was 4.80% and return on equity was 5.40% for FYBR. The company reported revenue of $1.45 billion for the quarter, compared to $1.46 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.69 percent. For the current quarter, analysts expect FYBR to generate $1.44B in revenue.
