Frontier Communications Parent (NASDAQ:FYBR) Sees Large Volume Increase – Here’s What Happened

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw an uptick in trading volume on Friday . 5,579,819 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 5,310,608 shares.The stock last traded at $38.4750 and had previously closed at $38.44.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Frontier Communications Parent in a research report on Monday, December 29th. Zacks Research raised Frontier Communications Parent from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Frontier Communications Parent Stock Up 0.1%

The company has a market capitalization of $9.63 billion, a P/E ratio of -25.32 and a beta of 0.94. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.56. The stock’s fifty day moving average is $38.03 and its 200 day moving average is $37.43.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Frontier Communications Parent had a negative net margin of 6.24% and a negative return on equity of 7.91%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.33) earnings per share. Research analysts predict that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in shares of Frontier Communications Parent during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. lifted its holdings in Frontier Communications Parent by 957.5% in the first quarter. Geneos Wealth Management Inc. now owns 772 shares of the company’s stock worth $28,000 after buying an additional 699 shares during the period. Danske Bank A S bought a new stake in Frontier Communications Parent during the 3rd quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its position in Frontier Communications Parent by 469.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,138 shares of the company’s stock valued at $43,000 after acquiring an additional 938 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Frontier Communications Parent by 173.5% during the 3rd quarter. Covestor Ltd now owns 1,195 shares of the company’s stock worth $45,000 after acquiring an additional 758 shares during the period.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc (NASDAQ: FYBR) is the holding company and parent organization of Frontier Communications, a provider of broadband, voice and video services across the United States. Formed in conjunction with the company’s restructuring and corporate spin-off, Frontier Communications Parent oversees the strategic direction and capital allocation for its operating subsidiaries, which deliver telecommunications solutions to residential and business customers.

The company’s operating units design, build and manage a diversified network infrastructure that includes fiber-to-the-premises (FTTP), digital subscriber line (DSL) and fixed wireless technologies.