Candriam Luxembourg S.C.A. Has $356,000 Stake in Frontier Communications Corp. (FTR)
Candriam Luxembourg S.C.A. cut its stake in shares of Frontier Communications Corp. (NASDAQ:FTR) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,975 shares of the company’s stock after selling 7,225 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Frontier Communications Corp. were worth $356,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Hexavest Inc. acquired a new position in shares of Frontier Communications Corp. during the second quarter valued at about $34,473,000. Renaissance Technologies LLC acquired a new position in shares of Frontier Communications Corp. during the first quarter valued at about $14,899,000. Bank of Montreal Can acquired a new position in shares of Frontier Communications Corp. during the second quarter valued at about $10,972,000. BlackRock Group LTD raised its position in shares of Frontier Communications Corp. by 14.2% in the first quarter. BlackRock Group LTD now owns 11,221,422 shares of the company’s stock valued at $62,728,000 after buying an additional 1,393,748 shares during the period. Finally, Gradient Investments LLC raised its position in shares of Frontier Communications Corp. by 12,535.8% in the second quarter. Gradient Investments LLC now owns 790,876 shares of the company’s stock valued at $3,907,000 after buying an additional 784,617 shares during the period. 65.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Frontier Communications Corp. (NASDAQ:FTR) traded down 0.50% on Thursday, reaching $4.00. The company’s stock had a trading volume of 14,406,294 shares. The stock has a 50-day moving average of $4.38 and a 200 day moving average of $4.95. Frontier Communications Corp. has a 52-week low of $3.81 and a 52-week high of $5.85. The company’s market cap is $4.69 billion.
Frontier Communications Corp. (NASDAQ:FTR) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.04. The business earned $2.61 billion during the quarter, compared to the consensus estimate of $2.75 billion. Frontier Communications Corp. had a positive return on equity of 2.52% and a negative net margin of 4.85%. Frontier Communications Corp.’s quarterly revenue was up 90.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts forecast that Frontier Communications Corp. will post ($0.08) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.105 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 10.53%. Frontier Communications Corp.’s dividend payout ratio is currently -85.71%.
FTR has been the topic of several recent analyst reports. Citigroup Inc. dropped their price target on Frontier Communications Corp. from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Friday, September 16th. Macquarie started coverage on Frontier Communications Corp. in a research report on Monday, July 11th. They set an “underperform” rating and a $4.65 target price on the stock. Zacks Investment Research lowered Frontier Communications Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $8.75 target price on shares of Frontier Communications Corp. in a research report on Monday, September 19th. Finally, Bank of America Corp. set a $8.00 target price on Frontier Communications Corp. and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $5.79.
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.
Want to see what other hedge funds are holding FTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frontier Communications Corp. (NASDAQ:FTR).
Receive News & Ratings for Frontier Communications Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corp. and related companies with MarketBeat.com's FREE daily email newsletter.