Frontier Communications Corporation (NASDAQ:FTR) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 23,597,601 shares, a decrease of 6.9% from the July 14th total of 25,354,210 shares. Based on an average daily volume of 2,448,257 shares, the short-interest ratio is presently 9.6 days. Approximately 30.3% of the company’s stock are short sold.

A number of research firms have recently weighed in on FTR. UBS AG downgraded shares of Frontier Communications Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.50 to $2.00 in a research report on Wednesday, May 3rd. Cowen and Company cut shares of Frontier Communications Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $4.00 to $2.00 in a research note on Wednesday, May 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $2.00 target price (down from $3.00) on shares of Frontier Communications Corporation in a research note on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $4.00 target price (up from $3.50) on shares of Frontier Communications Corporation in a research note on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $6.11.

A number of hedge funds have recently modified their holdings of FTR. Sigma Planning Corp raised its stake in shares of Frontier Communications Corporation by 0.8% in the first quarter. Sigma Planning Corp now owns 48,578 shares of the utilities provider’s stock worth $104,000 after buying an additional 362 shares during the period. Keybank National Association OH increased its position in shares of Frontier Communications Corporation by 0.9% in the first quarter. Keybank National Association OH now owns 81,836 shares of the utilities provider’s stock worth $175,000 after buying an additional 766 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Frontier Communications Corporation by 1.9% in the first quarter. Raymond James Trust N.A. now owns 125,270 shares of the utilities provider’s stock worth $268,000 after buying an additional 2,358 shares in the last quarter. Thrivent Financial for Lutherans increased its position 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. Finally, Cadence Capital Management LLC increased its position in shares of Frontier Communications Corporation by 6.1% in the first quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider’s stock worth $100,000 after buying an additional 2,661 shares in the last quarter.

Shares of Frontier Communications Corporation (FTR) opened at 14.91 on Friday. The company’s 50-day moving average is $15.64 and its 200-day moving average is $28.36. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $73.65. The stock’s market cap is $1.17 billion.

Frontier Communications Corporation (NASDAQ:FTR) last announced 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. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned ($0.29) EPS. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities analysts expect that Frontier Communications Corporation will post ($3.95) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.60 dividend. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. This represents a $2.40 annualized dividend and a yield of 16.10%. The ex-dividend date of this dividend is Thursday, September 14th. Frontier Communications Corporation’s payout ratio is -16.65%.

TRADEMARK VIOLATION NOTICE: “Frontier Communications Corporation (NASDAQ:FTR) Short Interest Update” was originally published by Daily Political and is owned by of Daily Political. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/11/frontier-communications-corporation-nasdaqftr-short-interest-update.html.

Frontier Communications Corporation Company Profile

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).

Receive News & Ratings for Frontier Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corporation and related companies with MarketBeat.com's FREE daily email newsletter.