Frontier Communications Parent (NASDAQ:FYBR) Shares Gap Up to $23.87

Frontier Communications Parent, Inc. (NASDAQ:FYBR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $23.87, but opened at $24.92. Frontier Communications Parent shares last traded at $24.70, with a volume of 161,534 shares trading hands.

Analyst Upgrades and Downgrades

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

Frontier Communications Parent Stock Performance

The stock’s 50-day simple moving average is $23.49 and its 200-day simple moving average is $22.11. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 197.33 and a beta of 1.05. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.13.

Frontier Communications Parent (NASDAQ:FYBR) last announced its earnings results 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. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down .8% compared to the same quarter last year. Analysts forecast that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Frontier Communications Parent

Hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. boosted its position in Frontier Communications Parent by 48.3% in the third quarter. CI Investments Inc. now owns 385,383 shares of the company’s stock valued at $6,031,000 after buying an additional 125,525 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Frontier Communications Parent by 0.5% during the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock valued at $372,906,000 after acquiring an additional 118,939 shares during the last quarter. Tudor Investment Corp Et Al raised its stake in shares of Frontier Communications Parent by 63.4% during the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock valued at $5,684,000 after acquiring an additional 140,943 shares during the last quarter. American Century Companies Inc. raised its stake in Frontier Communications Parent by 83.9% during the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after buying an additional 704,857 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new position in Frontier Communications Parent during the third quarter worth $2,157,000.

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.