FYBR Stock Recent News

Verizon said on Thursday it would buy Frontier Communications in a deal valued at $20 billion, as the U.S. wireless carrier looks to boost its fiber network.

Shares of Frontier Communications (FYBR) jumped nearly 40% on Wednesday after The Wall Street Journal said the fiber network company was in talks about a possible sale to Verizon Communications (VZ).

An announcement that Verizon Communications is acquiring Frontier could come this week, according to the Wall Street Journal report.

Verizon is in advanced talks to acquire Frontier Communications in a deal that would boost its fiber network and help it compete with rivals including AT&T , the Wall Street Journal reported on Wednesday.

Verizon VZ -0.03%decrease; red down pointing triangle is in advanced talks to acquire Frontier Communications FYBR 8.38%increase; green up pointing triangle in a deal that would bolster the company's fiber network to compete with rivals including AT&T, according to people familiar with the matter.

DALLAS--(BUSINESS WIRE)--Frontier (NASDAQ: FYBR): What's happening: Frontier is unleashing our fastest network-wide speeds with the launch of 7 Gig fiber internet service to consumers across our entire fiber footprint. We led the industry as the first major ISP to roll out 2 Gig and 5 Gig network wide, and now, we are doing it again. We are combining lightning-fast 7 Gig speeds with our premium services to give people the best possible internet experience. Why we did it: People want faster spee.

FYBR's strong execution and growth outlook led to a reiterated buy rating. 2Q24 results beat estimates, with strong fiber growth momentum expected to continue. My valuation model suggests FYBR is worth $34.

Frontier Communications Parent, Inc. (NASDAQ:FYBR ) Q2 2024 Earnings Conference Call August 2, 2024 8:30 AM ET Company Participants Spencer Kurn - Head, IR Nick Jeffery - President and CEO Scott Beasley - CFO Conference Call Participants Jim Schneider - Goldman Sachs Batya Levi - UBS Jonathan Chaplin - New Street Research Sam McHugh - BNP Paribas Sebastiano Petti - JPMorgan Greg Williams - TD Cowen Michael Rollins - Citi Shipra Pandey - Bank of America Nick Del Deo - MoffettNathanson Simon Flannery - Morgan Stanley Frank Louthan - Raymond James Peter Supino - Wolfe Research Operator Good morning. Thank you for attending today's Frontier Communications Second Quarter 2024 Earnings Call.

Although the revenue and EPS for Frontier Communications (FYBR) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Frontier Communications (FYBR) came out with a quarterly loss of $0.49 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.01 per share a year ago.