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FairPoint Communications (NYSE:FRP)’s share price hit a new 52-week high during trading on Friday , American Banking News reports. The company traded as high as $16.69 and last traded at $16.29, with a volume of 81,814 shares traded. The stock had previously closed at $16.32.

A number of research firms have recently commented on FRP. Analysts at Drexel Hamilton downgraded shares of FairPoint Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Analysts at Wells Fargo & Co. initiated coverage on shares of FairPoint Communications in a research note on Thursday, May 29th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. FairPoint Communications presently has an average rating of “Hold” and an average target price of $13.25.

The stock has a 50-day moving average of $14.36 and a 200-day moving average of $13.83. The company’s market cap is $428.0 million.

FairPoint Communications (NYSE:FRP) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.86) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.69) by $0.17. During the same quarter in the prior year, the company posted ($1.64) earnings per share. Analysts expect that FairPoint Communications will post $-3.44 EPS for the current fiscal year.

FairPoint Communications, Inc (NYSE:FRP) is a provider of communications services in rural and small urban communities, offering a range of services, including high speed data (HSD), Internet access, voice, television and broadband product offerings.

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