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

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw strong trading volume on Wednesday . 5,682,124 shares were traded during trading, an increase of 160% from the previous session’s volume of 2,183,611 shares.The stock last traded at $34.81 and had previously closed at $34.15.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BNP Paribas raised shares of Frontier Communications Parent to a “hold” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. cut shares of Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $35.00 to $38.50 in a research note on Tuesday, September 17th. Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 5th. Citigroup lowered shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wolfe Research lowered shares of Frontier Communications Parent from an “outperform” rating to a “peer perform” rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Frontier Communications Parent has a consensus rating of “Hold” and an average price target of $35.31.

Frontier Communications Parent Stock Up 0.2 %

The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s 50-day moving average price is $35.49 and its 200 day moving average price is $29.88. The firm has a market cap of $8.65 billion, a P/E ratio of -46.33 and a beta of 1.10.

Frontier Communications Parent (NASDAQ:FYBR) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Frontier Communications Parent had a negative return on equity of 3.61% and a negative net margin of 3.19%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $0.05 EPS. Frontier Communications Parent’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Frontier Communications Parent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Trading of Frontier Communications Parent

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Frontier Communications Parent in the 2nd quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new position in Frontier Communications Parent in the third quarter valued at about $50,000. Meeder Asset Management Inc. bought a new position in shares of Frontier Communications Parent in the third quarter worth about $52,000. Farther Finance Advisors LLC raised its stake in shares of Frontier Communications Parent by 80.8% during the third quarter. Farther Finance Advisors LLC now owns 1,815 shares of the company’s stock worth $64,000 after buying an additional 811 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Frontier Communications Parent by 224,400.0% during the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after buying an additional 2,244 shares during 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.