Frontier Communications Parent (NASDAQ:FYBR) Shares Gap Up to $23.87

Frontier Communications Parent, Inc. (NASDAQ:FYBR) shares gapped up before the market opened on Monday . The stock had previously closed at $23.87, but opened at $24.92. Frontier Communications Parent shares last traded at $24.70, with a volume of 161,534 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup raised Frontier Communications Parent from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $30.00 in a research report on Monday. Bank of America assumed coverage on Frontier Communications Parent in a research report on Tuesday, April 9th. They set a “buy” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.43.

Frontier Communications Parent Stock Down 0.1 %

The firm has a fifty day moving average price of $23.49 and a 200-day moving average price of $22.11. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.13. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 197.33 and a beta of 1.05.

Frontier Communications Parent (NASDAQ:FYBR) last issued its earnings results on Friday, February 23rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. Frontier Communications Parent had a return on equity of 0.56% and a net margin of 0.50%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. As a group, sell-side analysts forecast that Frontier Communications Parent, Inc. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FYBR. CI Investments Inc. increased its position in shares of Frontier Communications Parent by 48.3% during the third quarter. CI Investments Inc. now owns 385,383 shares of the company’s stock worth $6,031,000 after acquiring an additional 125,525 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Frontier Communications Parent by 0.5% during the third quarter. Vanguard Group Inc. now owns 23,827,853 shares of the company’s stock worth $372,906,000 after acquiring an additional 118,939 shares during the last quarter. Tudor Investment Corp Et Al grew its stake in Frontier Communications Parent by 63.4% in the third quarter. Tudor Investment Corp Et Al now owns 363,204 shares of the company’s stock worth $5,684,000 after purchasing an additional 140,943 shares in the last quarter. American Century Companies Inc. grew its stake in Frontier Communications Parent by 83.9% in the third quarter. American Century Companies Inc. now owns 1,545,063 shares of the company’s stock worth $24,180,000 after purchasing an additional 704,857 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in Frontier Communications Parent in the third quarter worth about $2,157,000.

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.