Frontier Communications Parent, Inc. (NASDAQ:FYBR) Short Interest Update

Frontier Communications Parent, Inc. (NASDAQ:FYBR) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 28,510,000 shares, a growth of 6.9% from the March 15th total of 26,660,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 16.9 days. Currently, 16.1% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages have weighed in on FYBR. Bank of America began coverage on Frontier Communications Parent in a report on Tuesday, April 9th. They issued a “buy” rating and a $30.00 price objective on the stock. Citigroup upgraded Frontier Communications Parent from a “neutral” rating to a “buy” rating and raised their price objective for the company from $28.00 to $30.00 in a report on Monday. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.43.

Institutional Trading of Frontier Communications Parent

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Glendon Capital Management LP increased its position in shares of Frontier Communications Parent by 6.2% during the 3rd 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Frontier Communications Parent by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,964,203 shares of the company’s stock valued at $607,253,000 after acquiring an additional 136,350 shares during the period. Capital International Investors boosted its holdings in Frontier Communications Parent by 0.3% during the 4th 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 during the period. Canada Pension Plan Investment Board boosted its holdings in Frontier Communications Parent by 14.6% during the 3rd 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 during the period. Finally, JANA Partners Management LP purchased a new position in Frontier Communications Parent during the 3rd quarter valued at about $129,569,000.

Frontier Communications Parent Stock Down 0.7 %

Shares of FYBR opened at $23.71 on Tuesday. Frontier Communications Parent has a 52-week low of $11.65 and a 52-week high of $25.89. The company has a market capitalization of $5.89 billion, a PE ratio of 197.58 and a beta of 1.05. The stock has a fifty day simple moving average of $23.49 and a two-hundred day simple moving average of $22.05. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13.

Frontier Communications Parent (NASDAQ:FYBR) last issued its quarterly earnings data 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 firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. As a group, equities analysts forecast that Frontier Communications Parent will post -0.44 EPS for the current year.

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.