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State of New Jersey Common Pension Fund D raised its stake in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Rating) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,478 shares of the company’s stock after purchasing an additional 7,238 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Frontier Communications Parent worth $2,987,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC raised its position in shares of Frontier Communications Parent by 2,144.9% in the 3rd quarter. CWM LLC now owns 1,100 shares of the company’s stock valued at $26,000 after acquiring an additional 1,051 shares during the period. US Bancorp DE acquired a new position in Frontier Communications Parent during the third quarter worth about $35,000. Geneos Wealth Management Inc. acquired a new position in shares of Frontier Communications Parent in the first quarter valued at approximately $35,000. Captrust Financial Advisors increased its position in Frontier Communications Parent by 2,698.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,875 shares of the company’s stock valued at $44,000 after purchasing an additional 1,808 shares during the period. Finally, CX Institutional bought a new position in shares of Frontier Communications Parent in the 2nd quarter worth $52,000.
Frontier Communications Parent Stock Down 0.6 %
Shares of NASDAQ FYBR opened at $27.98 on Friday. The stock has a market cap of $6.86 billion, a PE ratio of 14.50 and a beta of 0.78. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.85. Frontier Communications Parent, Inc. has a 52-week low of $20.83 and a 52-week high of $30.33. The business has a 50-day moving average price of $25.19 and a 200 day moving average price of $24.89.
Frontier Communications Parent (NASDAQ:FYBR – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.21 by $0.28. Frontier Communications Parent had a return on equity of 10.00% and a net margin of 8.06%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Equities research analysts forecast that Frontier Communications Parent, Inc. will post 1.42 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on FYBR shares. Morgan Stanley lifted their price objective on Frontier Communications Parent from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, December 15th. The Goldman Sachs Group dropped their target price on Frontier Communications Parent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Moffett Nathanson reduced their price objective on Frontier Communications Parent to $29.00 in a research report on Thursday, September 29th. Finally, Citigroup cut their target price on Frontier Communications Parent from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.
Frontier Communications Parent Company Profile
(Get Rating)
Frontier Communications Parent, Inc, together with its subsidiaries, provides communications services for consumer and business customers in 25 states 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.
Read More
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