Frontier Communications Parent (NASDAQ:FYBR) Trading Down 3.8%

Frontier Communications Parent, Inc. (NASDAQ:FYBR)’s stock price dropped 3.8% on Friday . The stock traded as low as $21.70 and last traded at $21.72. Approximately 926,998 shares were traded during trading, a decline of 45% from the average daily volume of 1,674,268 shares. The stock had previously closed at $22.57.

Wall Street Analysts Forecast Growth

FYBR has been the subject of several research reports. Bank of America initiated coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.00 to $30.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, Frontier Communications Parent presently has a consensus rating of “Moderate Buy” and an average target price of $27.43.

Frontier Communications Parent Stock Down 3.9 %

The business’s 50 day simple moving average is $23.46 and its 200 day simple moving average is $22.12. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $5.39 billion, a PE ratio of 188.08 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, analysts forecast that Frontier Communications Parent, Inc. will post -0.44 EPS for the current year.

Institutional Trading of Frontier Communications Parent

A number of hedge funds have recently made changes to their positions in the stock. Glendon Capital Management LP lifted its position in shares of Frontier Communications Parent by 6.2% in the third quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock worth $378,979,000 after purchasing an additional 1,417,609 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Frontier Communications Parent by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock worth $607,253,000 after purchasing an additional 136,350 shares in the last quarter. Capital International Investors raised its position in Frontier Communications Parent by 0.3% during the fourth quarter. Capital International Investors now owns 17,322,427 shares of the company’s stock valued at $438,950,000 after acquiring an additional 44,579 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Frontier Communications Parent by 14.6% during the third quarter. Canada Pension Plan Investment Board now owns 9,814,910 shares of the company’s stock valued at $153,603,000 after acquiring an additional 1,250,000 shares in the last quarter. Finally, JANA Partners Management LP bought a new position in Frontier Communications Parent during the third quarter valued at approximately $129,569,000.

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.