Frontier Communications Parent (NASDAQ:FYBR) Hits New 52-Week High – Here’s What Happened

by · The Markets Daily

Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.16 and last traded at $38.1850, with a volume of 14537 shares traded. The stock had previously closed at $38.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Frontier Communications Parent in a research note on Thursday. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Frontier Communications Parent has a consensus rating of “Reduce”.

Get Our Latest Stock Report on Frontier Communications Parent

Frontier Communications Parent Stock Up 0.6%

The firm’s 50-day moving average is $37.74 and its two-hundred day moving average is $37.13. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $9.57 billion, a P/E ratio of -25.16 and a beta of 0.94.

Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Frontier Communications Parent had a negative return on equity of 7.91% and a negative net margin of 6.24%.The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. On average, equities research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Communications Parent

Several institutional investors have recently modified their holdings of the stock. Swiss Life Asset Management Ltd increased its holdings in shares of Frontier Communications Parent by 92.6% in the third quarter. Swiss Life Asset Management Ltd now owns 11,291 shares of the company’s stock worth $422,000 after acquiring an additional 5,429 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Frontier Communications Parent by 20.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,200,000 shares of the company’s stock valued at $44,820,000 after purchasing an additional 200,000 shares during the period. Cantor Fitzgerald L. P. increased its stake in Frontier Communications Parent by 37.2% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 148,778 shares of the company’s stock worth $5,557,000 after purchasing an additional 40,345 shares in the last quarter. Strategic Advocates LLC acquired a new stake in Frontier Communications Parent during the 3rd quarter worth approximately $46,000. Finally, JPMorgan Chase & Co. lifted its stake in Frontier Communications Parent by 31.1% in the third quarter. JPMorgan Chase & Co. now owns 1,857,930 shares of the company’s stock valued at $69,394,000 after buying an additional 440,610 shares in the last quarter.

About Frontier Communications Parent

(Get Free Report)

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.

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