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

Frontier Communications Parent, Inc. (NASDAQ:FYBRGet Free Report) 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.

View Our Latest Stock Analysis on Frontier Communications Parent

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:FYBRGet Free Report) 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

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Frontier Communications Parent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Parent and related companies with MarketBeat.com's FREE daily email newsletter.