First Allied Advisory Services Inc. trimmed its position in shares of Frontier Communications Corporation (NASDAQ:FTR) by 95.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,268 shares of the utilities provider’s stock after selling 252,700 shares during the period. First Allied Advisory Services Inc.’s holdings in Frontier Communications were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Aviva PLC increased its position in shares of Frontier Communications by 0.5% during the 2nd quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock valued at $855,000 after purchasing an additional 3,410 shares during the last quarter. Arizona State Retirement System increased its position in shares of Frontier Communications by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 494,600 shares of the utilities provider’s stock valued at $574,000 after purchasing an additional 6,600 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Frontier Communications by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 856,469 shares of the utilities provider’s stock valued at $994,000 after purchasing an additional 7,154 shares during the last quarter. FNY Partners Fund LP increased its position in shares of Frontier Communications by 900.0% during the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Frontier Communications during the 3rd quarter valued at approximately $124,000. 67.62% of the stock is currently owned by institutional investors and hedge funds.

Frontier Communications Corporation (NASDAQ:FTR) opened at $8.08 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16. Frontier Communications Corporation has a 12-month low of $6.08 and a 12-month high of $57.30.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. Frontier Communications’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.64) EPS. research analysts predict that Frontier Communications Corporation will post -4.17 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 29.70%. The ex-dividend date is Thursday, December 14th. Frontier Communications’s payout ratio is -17.38%.

Several equities analysts have recently weighed in on the company. BidaskClub raised Frontier Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Deutsche Bank cut their target price on Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Cowen reissued a “hold” rating and set a $14.00 target price on shares of Frontier Communications in a research report on Thursday, October 19th. Zacks Investment Research raised Frontier Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Bank of America downgraded Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a research report on Friday, November 10th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Frontier Communications currently has a consensus rating of “Hold” and an average target price of $9.30.

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Frontier Communications 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).

Institutional Ownership by Quarter for Frontier Communications (NASDAQ:FTR)

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