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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FYBR shares. Citigroup raised shares of Frontier Communications Parent from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $30.00 in a research note on Monday. Bank of America started coverage on shares of Frontier Communications Parent in a research note on Tuesday, April 9th. They set a “buy” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.43.

Frontier Communications Parent Price Performance

The company has a debt-to-equity ratio of 2.13, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50 day moving average is $23.50 and its 200 day moving average is $21.99. The firm has a market cap of $6.01 billion, a P/E ratio of 198.92 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 (EPS) for the quarter, topping 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 business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that Frontier Communications Parent, Inc. will post -0.44 earnings per share for the current year.

Institutional Trading of Frontier Communications Parent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FYBR. JANA Partners Management LP purchased a new stake in Frontier Communications Parent during the third quarter valued at approximately $129,569,000. State Street Corp raised its position in shares of Frontier Communications Parent by 97.5% during the 3rd quarter. State Street Corp now owns 6,134,736 shares of the company’s stock valued at $143,737,000 after purchasing an additional 3,028,313 shares during the period. Norges Bank bought a new stake in shares of Frontier Communications Parent during the 4th quarter valued at $54,468,000. Capital International Investors raised its position in shares of Frontier Communications Parent by 19.8% during the 1st quarter. Capital International Investors now owns 10,953,760 shares of the company’s stock valued at $303,091,000 after purchasing an additional 1,809,275 shares during the period. Finally, Glendon Capital Management LP raised its position in shares of Frontier Communications Parent by 6.2% during the 3rd quarter. Glendon Capital Management LP now owns 24,215,909 shares of the company’s stock valued at $378,979,000 after purchasing an additional 1,417,609 shares during the period.

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.