In the last trading session, 5.62 million shares of the Frontier Communications Parent Inc. (NASDAQ:FYBR) were traded. Most recently the company’s share price was $16.26, and it changed around $0.03 or 0.18% from the last close, which brings the market valuation of the company to $4.15B. FYBR currently trades at a discount to its 52-week high of $30.83, offering almost -89.61% off that amount. The share price’s 52-week low was $16.14, which indicates that the current value has risen by an impressive 0.74% since then. We note from Frontier Communications Parent Inc.’s average daily trading volume that its 10-day average is 3.04 million shares, with the 3-month average coming to 2.01 million.
Frontier Communications Parent Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended FYBR as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Frontier Communications Parent Inc. is expected to report earnings per share of $0.03 for the current quarter.
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Frontier Communications Parent Inc. (NASDAQ:FYBR) trade information
Instantly FYBR has showed a green trend with a performance of 0.18% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 17.83 on Tuesday, 05/23/23 increased the stock’s daily price by 8.81%. The company’s shares are currently down -36.19% year-to-date, but still down -5.74% over the last five days. On the other hand, Frontier Communications Parent Inc. (NASDAQ:FYBR) is -24.62% down in the 30-day period. We can see from the shorts that 24.15 million shares have been sold at a short interest cover period of 15.98 day(s).
The consensus price target as assigned by Wall Street analysts is $35.75, which translates to bulls needing to increase their stock price by 54.52% from its current value. Analyst projections state that FYBR is forecast to be at a low of $19.00 and a high of $69.00. In order for the stock price to hit the forecast high, the stock would need to plunge -324.35% from its current level, while the stock would need to crash -16.85% from its current level to reach the projected low.
Frontier Communications Parent Inc. (FYBR) estimates and forecasts
Frontier Communications Parent Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -34.88 percent over the past six months and at a -98.33% annual growth rate that is well below the industry average of 34.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -92.70% in revenue this quarter, and will report a decrease of -93.90% in the next quarter.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $1.45 billion in revenue for the current quarter. 6 analysts expect Frontier Communications Parent Inc. to make $1.45 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.46 billion and $1.44 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -0.90%. Forecasts for the next quarter put sales growth at 0.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.40%.
Frontier Communications Parent Inc.’s next quarterly earnings report is expected to be released around August 03 and August 07.
Frontier Communications Parent Inc. (NASDAQ:FYBR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.42% of Frontier Communications Parent Inc. shares, and 102.72% of them are in the hands of institutional investors. The stock currently has a share float of 103.15%. Frontier Communications Parent Inc. stock is held by 328 institutions, with Ares Management LLC being the largest institutional investor. By Mar 30, 2023, it held 15.12% of the shares, which is about 37.09 million shares worth $844.65 million.
Vanguard Group, Inc. (The), with 9.70% or 23.81 million shares worth $542.19 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 8.0 million shares worth $182.06 million, making up 3.26% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 7.43 million shares worth around $189.43 million, which represents about 3.03% of the total shares outstanding.