Frontier Communications Corporation’s (NASDAQ:FTR) “Neutral” Rating Reaffirmed at UBS AG
Frontier Communications Corporation (NASDAQ:FTR)‘s stock had its “neutral” rating reiterated by equities researchers at UBS AG in a research report issued on Tuesday, www.flashratings.com reports. They currently have a $15.00 target price on the utilities provider’s stock, down from their previous target price of $26.25. UBS AG’s price objective would suggest a potential downside of 1.32% from the stock’s current price.
Several other research firms have also recently weighed in on FTR. Jefferies Group LLC restated a “buy” rating and set a $25.00 price target (down previously from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Hilliard Lyons cut Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, August 3rd. Royal Bank Of Canada cut their price target on Frontier Communications Corporation to $16.00 and set a “sector perform” rating for the company in a report on Tuesday. Cowen and Company restated a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.11.
Frontier Communications Corporation (NASDAQ:FTR) traded down 4.46% during mid-day trading on Tuesday, reaching $15.20. The company had a trading volume of 3,085,511 shares. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $74.70. The company’s market capitalization is $1.18 billion. The firm has a 50-day moving average of $16.10 and a 200 day moving average of $29.71.
Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($1.07) by $0.03. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) EPS. On average, analysts predict that Frontier Communications Corporation will post ($3.37) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of FTR. Thrivent Financial for Lutherans raised its stake in shares of Frontier Communications Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,509 shares of the utilities provider’s stock worth $141,000 after buying an additional 2,570 shares in the last quarter. Norges Bank acquired a new stake in shares of Frontier Communications Corporation during the fourth quarter worth about $17,074,000. UBS Asset Management Americas Inc. raised its stake in shares of Frontier Communications Corporation by 0.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,071,083 shares of the utilities provider’s stock worth $10,381,000 after buying an additional 7,722 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Frontier Communications Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 1,542,051 shares of the utilities provider’s stock worth $5,212,000 after buying an additional 142,788 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Frontier Communications Corporation during the fourth quarter worth about $288,000.
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).
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