Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR – Get Free Report) saw an uptick in trading volume on Friday . 1,765,612 shares were traded during trading, a decline of 4% from the previous session’s volume of 1,840,028 shares.The stock last traded at $35.14 and had previously closed at $35.00.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on FYBR. Citigroup raised their target price on shares of Frontier Communications Parent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Frontier Communications Parent from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. UBS Group began coverage on shares of Frontier Communications Parent in a report on Thursday, July 18th. They set a “buy” rating and a $33.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of Frontier Communications Parent from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Moffett Nathanson cut shares of Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Frontier Communications Parent has a consensus rating of “Moderate Buy” and a consensus price target of $34.94.
Read Our Latest Analysis on FYBR
Frontier Communications Parent Price Performance
Frontier Communications Parent (NASDAQ:FYBR – Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Frontier Communications Parent had a negative return on equity of 1.80% and a negative net margin of 1.62%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. Equities research analysts predict that Frontier Communications Parent, Inc. will post -0.79 earnings per share for the current year.
Institutional Trading of Frontier Communications Parent
Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in Frontier Communications Parent in the second quarter valued at approximately $37,000. Neo Ivy Capital Management acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $49,000. Cape Investment Advisory Inc. acquired a new stake in Frontier Communications Parent in the fourth quarter valued at approximately $52,000. Game Plan Financial Advisors LLC boosted its position in Frontier Communications Parent by 320.0% in the first quarter. Game Plan Financial Advisors LLC now owns 2,100 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Frontier Communications Parent by 224,400.0% in the second quarter. Blue Trust Inc. now owns 2,245 shares of the company’s stock valued at $55,000 after buying an additional 2,244 shares in the last quarter.
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.
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