Frontier Communications Parent (NASDAQ:FYBR) Sets New 1-Year High – Still a Buy?

by · The Cerbat Gem

Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Free Report)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $38.31 and last traded at $38.2450, with a volume of 1408273 shares traded. The stock had previously closed at $38.11.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Frontier Communications Parent currently has an average rating of “Reduce”.

View Our Latest Report on FYBR

Frontier Communications Parent Price Performance

The company has a fifty day moving average of $38.03 and a 200-day moving average of $37.43. 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 has a market cap of $9.62 billion, a PE ratio of -25.29 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business posted ($0.33) EPS. Frontier Communications Parent’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts expect that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Frontier Communications Parent by 5.3% in the 1st quarter. Royal Bank of Canada now owns 35,250 shares of the company’s stock valued at $1,264,000 after purchasing an additional 1,778 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Frontier Communications Parent by 129.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,336,646 shares of the company’s stock valued at $83,792,000 after acquiring an additional 1,316,597 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Frontier Communications Parent by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 664,891 shares of the company’s stock valued at $23,843,000 after acquiring an additional 49,803 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake 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 acquiring an additional 699 shares during the last quarter. Finally, Strs Ohio acquired a new position in Frontier Communications Parent during the 1st quarter worth approximately $1,214,000.

About Frontier Communications Parent

(Get Free Report)

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.

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