Frontier Communications Parent (NASDAQ:FYBR) Shares Down 3.8%

Shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Get Free Report) were down 3.8% during mid-day trading on Friday . The stock traded as low as $21.70 and last traded at $21.72. Approximately 926,998 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,674,268 shares. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

Several research firms have weighed in on FYBR. Citigroup upgraded shares of Frontier Communications Parent from a "neutral" rating to a "buy" rating and increased their price target for the stock from $28.00 to $30.00 in a research report on Monday. Bank of America began coverage on shares of Frontier Communications Parent in a research report on Tuesday, April 9th. They issued a "buy" rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.43.

Frontier Communications Parent Stock Down 3.9 %

The stock has a market capitalization of $5.39 billion, a P/E ratio of 188.08 and a beta of 1.05. The company's 50-day moving average price is $23.46 and its 200 day moving average price is $22.12. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.22 and a current ratio of 1.22.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. Frontier Communications Parent had a net margin of 0.50% and a return on equity of 0.56%. The company's revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts expect that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

Several institutional investors and hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC grew its stake in Frontier Communications Parent by 1.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 43,797 shares of the company's stock valued at $1,110,000 after acquiring an additional 441 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Frontier Communications Parent by 120.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 975 shares of the company's stock worth $25,000 after buying an additional 532 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Frontier Communications Parent by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 107,519 shares of the company's stock worth $1,683,000 after buying an additional 550 shares in the last quarter. Xponance Inc. grew its stake in shares of Frontier Communications Parent by 2.0% in the 4th quarter. Xponance Inc. now owns 28,019 shares of the company's stock worth $710,000 after buying an additional 559 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Frontier Communications Parent by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 155,920 shares of the company's stock worth $4,314,000 after buying an additional 682 shares in 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.