Zacks: Analysts Expect Frontier Communications Parent, Inc. (NASDAQ:FYBR) Will Post Quarterly Sales of $1.60 Billion

Wall Street brokerages forecast that Frontier Communications Parent, Inc. (NASDAQ:FYBR) will report $1.60 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Frontier Communications Parent’s earnings. The highest sales estimate is $1.60 billion and the lowest is $1.59 billion. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, November 3rd.

On average, analysts expect that Frontier Communications Parent will report full-year sales of $6.47 billion for the current year, with estimates ranging from $6.46 billion to $6.49 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.94 billion, with estimates ranging from $5.93 billion to $5.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Frontier Communications Parent.

Several research firms have recently issued reports on FYBR. The Goldman Sachs Group began coverage on Frontier Communications Parent in a research report on Tuesday, July 6th. They set a “buy” rating and a $42.00 price objective for the company. Raymond James began coverage on Frontier Communications Parent in a research report on Thursday, September 23rd. They set an “outperform” rating and a $34.00 price objective for the company. Cowen began coverage on Frontier Communications Parent in a research note on Wednesday, July 21st. They set an “outperform” rating and a $37.00 target price for the company. Benchmark increased their target price on Frontier Communications Parent from $40.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, August 11th. Finally, Moffett Nathanson increased their target price on Frontier Communications Parent from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $40.60.

Shares of NASDAQ:FYBR remained flat at $$27.40 on Wednesday. The stock had a trading volume of 714,760 shares, compared to its average volume of 1,619,196. The stock’s fifty day moving average is $29.69. Frontier Communications Parent has a twelve month low of $23.24 and a twelve month high of $33.34. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.65.

In other news, major shareholder Ares Management Llc acquired 424,119 shares of the company’s stock in a transaction that occurred on Friday, September 24th. The stock was purchased at an average cost of $26.95 per share, with a total value of $11,430,007.05. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. purchased a new position in Frontier Communications Parent in the 2nd quarter valued at approximately $35,000. CX Institutional purchased a new position in Frontier Communications Parent in the 2nd quarter valued at approximately $76,000. Wells Fargo & Company MN purchased a new position in Frontier Communications Parent in the 2nd quarter valued at approximately $109,000. SG Americas Securities LLC acquired a new stake in Frontier Communications Parent during the 2nd quarter valued at $166,000. Finally, Hayden Royal LLC acquired a new stake in Frontier Communications Parent during the 2nd quarter valued at $200,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides various services to residential and business customers over its fiber-optic and copper networks in 25 states in the United States. It offers video, high-speed Internet, advanced voice, and Frontier Secure digital protection solutions.

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