Blair William & Co. IL Lowers Stake in Frontier Communications Corp. (FTR)
Blair William & Co. IL reduced its stake in Frontier Communications Corp. (NASDAQ:FTR) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,131 shares of the company’s stock after selling 41 shares during the period. Blair William & Co. IL’s holdings in Frontier Communications Corp. were worth $218,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its position in Frontier Communications Corp. by 25.2% in the first quarter. IFP Advisors Inc now owns 93,519 shares of the company’s stock valued at $523,000 after buying an additional 18,826 shares during the last quarter. Nisa Investment Advisors L.L.C. purchased a new stake in shares of Frontier Communications Corp. during the first quarter valued at approximately $684,000. Buffington Mohr McNeal purchased a new stake in shares of Frontier Communications Corp. during the first quarter valued at approximately $363,000. Aperio Group LLC increased its stake in shares of Frontier Communications Corp. by 3.0% in the first quarter. Aperio Group LLC now owns 534,317 shares of the company’s stock valued at $2,987,000 after buying an additional 15,630 shares during the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in shares of Frontier Communications Corp. by 7.5% in the first quarter. Commonwealth Equity Services Inc now owns 306,400 shares of the company’s stock valued at $1,713,000 after buying an additional 21,266 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.
Frontier Communications Corp. (NASDAQ:FTR) traded down 2.09% during trading on Tuesday, hitting $4.21. 21,709,605 shares of the company were exchanged. Frontier Communications Corp. has a 12 month low of $3.81 and a 12 month high of $5.85. The stock’s 50-day moving average is $4.69 and its 200-day moving average is $5.09. The company’s market capitalization is $4.94 billion.
Frontier Communications Corp. (NASDAQ:FTR) last posted its earnings results on Monday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. Frontier Communications Corp. had a negative net margin of 4.85% and a positive return on equity of 2.52%. The firm earned $2.61 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business’s revenue for the quarter was up 90.6% on a year-over-year basis. Equities research analysts anticipate that Frontier Communications Corp. will post ($0.08) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 9.98%. The ex-dividend date is Tuesday, September 13th. Frontier Communications Corp.’s dividend payout ratio is currently -85.71%.
Several brokerages have recently commented on FTR. Citigroup Inc. decreased their price objective on shares of Frontier Communications Corp. from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Friday. Zacks Investment Research raised shares of Frontier Communications Corp. from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Friday, July 8th. Raymond James Financial Inc. cut their target price on shares of Frontier Communications Corp. from $6.00 to $5.50 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Morgan Stanley cut shares of Frontier Communications Corp. from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $6.00 to $5.40 in a research note on Monday, July 18th. Finally, Macquarie started coverage on shares of Frontier Communications Corp. in a research note on Monday, July 11th. They set an “underperform” rating and a $4.65 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $5.95.
About Frontier Communications Corp.
Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.
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