Frontier Communications Corporation (FTR) Upgraded at BidaskClub
BidaskClub upgraded shares of Frontier Communications Corporation (NASDAQ:FTR) from a sell rating to a hold rating in a report published on Thursday.
A number of other research analysts have also commented on the company. Jefferies Group LLC reiterated a buy rating and set a $25.00 price target (down from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Frontier Communications Corporation from a hold rating to a buy rating in a report on Friday, July 14th. Vetr lowered Frontier Communications Corporation from a strong-buy rating to a buy rating and set a $13.35 price target for the company. in a report on Tuesday, October 31st. Morgan Stanley cut their price target on Frontier Communications Corporation to $16.00 and set an equal weight rating for the company in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reiterated a hold rating and set a $16.00 price target on shares of Frontier Communications Corporation in a report on Sunday, September 17th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $9.93.
Shares of Frontier Communications Corporation (FTR) traded up $0.13 during trading on Thursday, hitting $6.90. The stock had a trading volume of 1,317,548 shares, compared to its average volume of 2,823,098. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. Frontier Communications Corporation has a fifty-two week low of $6.72 and a fifty-two week high of $57.30.
Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.64) EPS. equities analysts expect that Frontier Communications Corporation will post -4.11 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 34.76%. The ex-dividend date is Thursday, December 14th. Frontier Communications Corporation’s payout ratio is presently -17.45%.
Institutional investors and hedge funds have recently modified their holdings of the company. Bollard Group LLC lifted its stake in Frontier Communications Corporation by 3.3% in the second quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock valued at $108,000 after buying an additional 2,973 shares during the period. Shelton Capital Management bought a new stake in shares of Frontier Communications Corporation in the second quarter worth about $111,000. GSA Capital Partners LLP bought a new stake in shares of Frontier Communications Corporation in the second quarter worth about $113,000. World Asset Management Inc increased its holdings in shares of Frontier Communications Corporation by 14.5% in the second quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 13,158 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its holdings in shares of Frontier Communications Corporation by 85.1% in the second quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 49,329 shares in the last quarter.
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).
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