Frontier Communications Corporation (NASDAQ:FTR)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank Of Canada in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $16.00 target price on the utilities provider’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 6.10% from the company’s previous close.

Other research analysts have also issued reports about the company. UBS AG reissued a “buy” rating on shares of Frontier Communications Corporation in a report on Thursday, May 4th. Zacks Investment Research raised Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $4.00 target price (up from $3.50) on shares of Frontier Communications Corporation in a report on Friday, April 28th. Morgan Stanley decreased their target price on Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating on the stock in a report on Wednesday, June 14th. Finally, ValuEngine raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Frontier Communications Corporation currently has an average rating of “Hold” and an average price target of $6.11.

Frontier Communications Corporation (NASDAQ:FTR) opened at 15.08 on Tuesday. Frontier Communications Corporation has a 12-month low of $13.13 and a 12-month high of $74.10. The firm’s market cap is $1.18 billion. The company has a 50-day moving average price of $15.74 and a 200-day moving average price of $28.73.

Frontier Communications Corporation (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by $0.03. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.29) EPS. On average, analysts predict that Frontier Communications Corporation will post ($3.95) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Frontier Communications Corporation by 4,683.4% in the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock valued at $248,246,000 after buying an additional 113,578,500 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Frontier Communications Corporation by 101.4% in the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after buying an additional 21,522,621 shares in the last quarter. Bank of New York Mellon Corp increased 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 in the last quarter. Morgan Stanley increased its stake in shares of Frontier Communications Corporation by 133.9% in the first quarter. Morgan Stanley now owns 10,376,683 shares of the utilities provider’s stock valued at $22,207,000 after buying an additional 5,941,074 shares in the last quarter. Finally, Hexavest Inc. increased its stake in shares of Frontier Communications Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 8,355,403 shares of the utilities provider’s stock valued at $17,881,000 after buying an additional 351,596 shares in the last quarter.

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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