Frontier Communications Corporation (NASDAQ:FTR)‘s stock had its “market perform” rating restated by Cowen and Company in a research report issued on Wednesday.

FTR has been the subject of several other reports. UBS AG cut shares of Frontier Communications Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $3.50 to $2.00 in a report on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $2.00 target price (down from $3.00) on shares of Frontier Communications Corporation in a report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $4.00 target price (up from $3.50) on shares of Frontier Communications Corporation in a report on Friday, April 28th. Zacks Investment Research raised shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 14th. Finally, BidaskClub cut shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.21.

Shares of Frontier Communications Corporation (FTR) traded up 9.15% during midday trading on Wednesday, reaching $15.87. 5,629,085 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.23 billion. Frontier Communications Corporation has a 12-month low of $13.13 and a 12-month high of $74.70. The firm has a 50-day moving average of $16.43 and a 200-day moving average of $30.01.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by $0.03. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the firm posted ($0.29) earnings per share. Analysts anticipate that Frontier Communications Corporation will post ($3.48) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Frontier Communications Corporation by 61.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,067,340 shares of the utilities provider’s stock valued at $2,652,000 after buying an additional 405,294 shares during the period. Comerica Bank raised its stake in shares of Frontier Communications Corporation by 1.3% in the second quarter. Comerica Bank now owns 940,739 shares of the utilities provider’s stock valued at $997,000 after buying an additional 12,067 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Frontier Communications Corporation by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after buying an additional 1,757,905 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Frontier Communications Corporation by 3.1% in the second quarter. Advisors Asset Management Inc. now owns 7,073,545 shares of the utilities provider’s stock valued at $8,205,000 after buying an additional 210,895 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Frontier Communications Corporation by 25.1% in the second quarter. Rhumbline Advisers now owns 2,403,918 shares of the utilities provider’s stock valued at $2,789,000 after buying an additional 482,797 shares during the period.

About Frontier Communications Corporation

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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