Frontier Communications Parent (NASDAQ:FYBR) Sets New 12-Month High at $38.49

Frontier Communications Parent, Inc. (NASDAQ:FYBR)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $38.49 and last traded at $36.65, with a volume of 5832801 shares. The stock had previously closed at $28.04.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. 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 note on Friday. Benchmark reiterated a “buy” rating and issued a $37.00 target price on shares of Frontier Communications Parent in a research note on Thursday. UBS Group initiated coverage on shares of Frontier Communications Parent in a report on Thursday, July 18th. They set a “buy” rating and a $33.00 price target for the company. JPMorgan Chase & Co. increased their target price on Frontier Communications Parent from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price target on Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Frontier Communications Parent Stock Up 1.5 %

The firm’s 50 day moving average is $27.98 and its two-hundred day moving average is $25.69. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.19. The firm has a market cap of $8.83 billion, a P/E ratio of 322.73 and a beta of 1.08.

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

Hedge Funds Weigh In On Frontier Communications Parent

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its position in Frontier Communications Parent by 23.4% during the second quarter. Creative Planning now owns 11,842 shares of the company’s stock valued at $310,000 after purchasing an additional 2,247 shares in the last quarter. Algert Global LLC lifted its position in shares of Frontier Communications Parent by 12.8% during the 2nd quarter. Algert Global LLC now owns 42,594 shares of the company’s stock worth $1,115,000 after buying an additional 4,824 shares during the last quarter. Luxor Capital Group LP boosted its stake in Frontier Communications Parent by 1.6% in the second quarter. Luxor Capital Group LP now owns 2,796,332 shares of the company’s stock valued at $73,208,000 after buying an additional 43,542 shares in the last quarter. AQR Capital Management LLC bought a new position in Frontier Communications Parent in the second quarter valued at about $269,000. Finally, Aristeia Capital L.L.C. raised its stake in Frontier Communications Parent by 1.9% during the second quarter. Aristeia Capital L.L.C. now owns 1,260,024 shares of the company’s stock worth $32,987,000 after acquiring an additional 23,825 shares in the last quarter.

Frontier Communications Parent Company Profile

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.