FairPoint Communications Inc (NASDAQ:FRP) has been given a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.
Brokers have set a 1-year consensus price target of $17.00 for the company and are predicting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned FairPoint Communications an industry rank of 28 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on the company. Jefferies Group LLC lowered their target price on FairPoint Communications from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, March 7th. Zacks Investment Research upgraded FairPoint Communications from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, March 9th.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Advisors LLC raised its stake in shares of FairPoint Communications by 1.1% in the third quarter. BlackRock Advisors LLC now owns 46,586 shares of the technology company’s stock worth $700,000 after buying an additional 529 shares during the period. Alambic Investment Management L.P. raised its stake in shares of FairPoint Communications by 1.4% in the third quarter. Alambic Investment Management L.P. now owns 72,251 shares of the technology company’s stock worth $1,086,000 after buying an additional 980 shares during the period. SECOR Capital Advisors LP raised its stake in shares of FairPoint Communications by 9.3% in the third quarter. SECOR Capital Advisors LP now owns 81,470 shares of the technology company’s stock worth $1,224,000 after buying an additional 6,923 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of FairPoint Communications by 24.5% in the fourth quarter. Teachers Advisors LLC now owns 44,945 shares of the technology company’s stock worth $840,000 after buying an additional 8,853 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of FairPoint Communications by 12.2% in the third quarter. California Public Employees Retirement System now owns 86,600 shares of the technology company’s stock worth $1,302,000 after buying an additional 9,400 shares during the last quarter. Institutional investors own 92.22% of the company’s stock.
Shares of FairPoint Communications (NASDAQ:FRP) opened at 17.55 on Tuesday. The company has a market cap of $471.71 million, a price-to-earnings ratio of 4.57 and a beta of 0.32. The firm’s 50-day moving average is $16.72 and its 200 day moving average is $17.20. FairPoint Communications has a 1-year low of $12.81 and a 1-year high of $19.60.
FairPoint Communications (NASDAQ:FRP) last announced its earnings results on Monday, March 6th. The technology company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.41. FairPoint Communications had a net margin of 15.70% and a negative return on equity of 627.47%. The business earned $203.93 million during the quarter, compared to analyst estimates of $200.33 million. Equities analysts expect that FairPoint Communications will post ($1.60) EPS for the current fiscal year.
FairPoint Communications Company Profile
FairPoint Communications, Inc is a provider of data, voice and communications services to business, wholesale and residential customers within its service territories. The Company offers its customers a suite of services, such as Ethernet, Session Initiation Protocol Trunking (SIP-Trunking), hosted Primary Branch Exchange (hosted PBX), managed services, data center colocation services, high capacity data transport and other Internet protocol (IP)-based services over its fiber-based network.
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