Frontier Communications Parent (NASDAQ:FYBR) Hits New 1-Year High - Time to Buy?

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.

Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) hit a new 52-week high during mid-day 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 Trading Down 0.0%

The firm's 50 day moving average price is $36.92 and its 200-day moving average price is $36.44. The stock has a market cap of $9.36 billion, a P/E ratio of -24.14 and a beta of 0.95. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.36 and a quick ratio of 0.36.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Frontier Communications Parent by 0.3% during the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock valued at $873,364,000 after purchasing an additional 77,795 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Frontier Communications Parent by 52.9% during the second quarter. Qube Research & Technologies Ltd now owns 6,238,099 shares of the company's stock valued at $227,067,000 after buying an additional 2,157,594 shares during the last quarter. Norges Bank purchased a new stake in Frontier Communications Parent during the second quarter valued at approximately $207,593,000. Balyasny Asset Management L.P. increased its holdings in Frontier Communications Parent by 130.5% during the second quarter. Balyasny Asset Management L.P. now owns 4,552,418 shares of the company's stock valued at $165,708,000 after buying an additional 2,577,691 shares during the last quarter. Finally, Pentwater Capital Management LP purchased a new stake in Frontier Communications Parent during the first quarter valued at approximately $161,370,000.

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.