Frontier Communications Parent (NASDAQ:FYBR) Sees Strong Trading Volume

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw an uptick in trading volume on Friday . 1,765,612 shares were traded during trading, a decline of 4% from the previous session’s volume of 1,840,028 shares.The stock last traded at $35.14 and had previously closed at $35.00.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FYBR. Wells Fargo & Company reiterated an “equal weight” rating and set a $38.50 price target (up previously from $31.00) on shares of Frontier Communications Parent in a research report on Friday. Citigroup boosted their price target on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $37.00 price target on shares of Frontier Communications Parent in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group assumed coverage on shares of Frontier Communications Parent in a research report on Thursday, July 18th. They set a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Frontier Communications Parent presently has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Frontier Communications Parent Price Performance

The company has a debt-to-equity ratio of 2.19, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day moving average is $27.98 and its 200 day moving average is $25.69. The firm has a market cap of $8.77 billion, a P/E ratio of 319.45 and a beta of 1.08.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. As a group, analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FYBR. Norges Bank bought a new position in shares of Frontier Communications Parent in the fourth quarter worth approximately $50,269,000. Dimensional Fund Advisors LP lifted its position in Frontier Communications Parent by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 8,088,749 shares of the company’s stock valued at $211,758,000 after purchasing an additional 1,587,145 shares during the period. Canada Pension Plan Investment Board lifted its position in Frontier Communications Parent by 12.0% during the first quarter. Canada Pension Plan Investment Board now owns 13,683,965 shares of the company’s stock valued at $335,257,000 after purchasing an additional 1,462,646 shares during the period. Reaves W H & Co. Inc. bought a new position in Frontier Communications Parent during the first quarter valued at approximately $20,200,000. Finally, Sunriver Management LLC bought a new position in Frontier Communications Parent during the fourth quarter valued at approximately $16,255,000.

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.