Frontier Communications Parent (NASDAQ:FYBR) Reaches New 52-Week High - What's Next?

Key Points

• Frontier Communications Parent's stock reached a new 52-week high of $37.47, closing at $37.41 with a volume of 735,051 shares traded.
• The company reported a loss of ($0.49) EPS for the latest quarter, missing estimates, despite having quarterly revenue of $1.54 billion, which is a 4.0% increase from the previous year.
• Several hedge funds significantly increased their stakes in Frontier Communications, with Geneos Wealth Management boosting its position by 957.5% during the first quarter.

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $37.47 and last traded at $37.41, with a volume of 735051 shares. The stock had previously closed at $37.35.

Frontier Communications Parent Price Performance

The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36. The firm's 50 day simple moving average is $36.86 and its 200 day simple moving average is $36.40. The stock has a market capitalization of $9.36 billion, a PE ratio of -24.13 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Frontier Communications Parent had a negative return on equity of 7.88% and a negative net margin of 6.40%.The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the firm earned ($0.49) earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FYBR. Geneos Wealth Management Inc. increased its position in Frontier Communications Parent by 957.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 772 shares of the company's stock valued at $28,000 after purchasing an additional 699 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Frontier Communications Parent by 46.1% during the 1st quarter. Brooklyn Investment Group now owns 1,137 shares of the company's stock valued at $41,000 after buying an additional 359 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Frontier Communications Parent by 360.7% during the 1st quarter. Parallel Advisors LLC now owns 1,958 shares of the company's stock valued at $70,000 after buying an additional 1,533 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Frontier Communications Parent during the 1st quarter valued at $74,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $76,000.

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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