Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Free Report) saw an uptick in trading volume on Tuesday . 4,143,592 shares changed hands during trading, an increase of 103% from the previous session’s volume of 2,041,388 shares.The stock last traded at $35.96 and had previously closed at $35.25.
Analyst Ratings Changes
Several brokerages have weighed in on FYBR. JPMorgan Chase & Co. cut Frontier Communications Parent from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $38.50 in a report on Tuesday, September 17th. Moffett Nathanson cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 5th. TD Cowen cut Frontier Communications Parent from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.50 in a report on Tuesday, October 8th. Benchmark reissued a “buy” rating and set a $37.00 price objective on shares of Frontier Communications Parent in a report on Thursday, September 5th. Finally, Citigroup cut Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.31.
Check Out Our Latest Report on FYBR
Frontier Communications Parent Price Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.38). Frontier Communications Parent had a negative net margin of 1.62% and a negative return on equity of 1.80%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Frontier Communications Parent’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Communications Parent, Inc. will post -0.79 EPS for the current fiscal year.
Hedge Funds Weigh In On Frontier Communications Parent
Several institutional investors and hedge funds have recently modified their holdings of FYBR. International Assets Investment Management LLC acquired a new position in shares of Frontier Communications Parent in the 2nd quarter valued at approximately $37,000. Game Plan Financial Advisors LLC boosted its position in Frontier Communications Parent by 320.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 shares during the last quarter. Blue Trust Inc. boosted its position in Frontier Communications Parent by 224,400.0% during the 2nd quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock worth $55,000 after acquiring an additional 2,244 shares during the last quarter. GAMMA Investing LLC boosted its position in Frontier Communications Parent by 100.9% during the 1st quarter. GAMMA Investing LLC now owns 2,523 shares of the company’s stock worth $62,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Frontier Communications Parent by 140.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,208 shares of the company’s stock worth $103,000 after acquiring an additional 2,461 shares during the last quarter.
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.
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