UBS Group cut shares of Frontier Communications (NASDAQ:FTR) from a neutral rating to a sell rating in a research note published on Wednesday, 99wallstreet.com reports. UBS Group currently has $3.00 target price on the utilities provider’s stock, down from their previous target price of $6.00.

A number of other brokerages have also issued reports on FTR. BidaskClub raised Frontier Communications from a hold rating to a buy rating in a research note on Thursday, September 20th. ValuEngine raised Frontier Communications from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. Royal Bank of Canada reissued a hold rating and issued a $6.00 price target on shares of Frontier Communications in a research note on Friday, August 3rd. Zacks Investment Research lowered Frontier Communications from a buy rating to a hold rating in a research note on Thursday, August 2nd. Finally, Guggenheim reissued a sell rating and issued a $4.20 price target on shares of Frontier Communications in a research note on Wednesday, August 1st. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $5.94.

Frontier Communications stock traded down $0.13 during midday trading on Wednesday, reaching $3.87. 4,638,776 shares of the company were exchanged, compared to its average volume of 3,605,761. The stock has a market cap of $429.06 million, a PE ratio of -1.02 and a beta of 0.83. Frontier Communications has a 1 year low of $3.81 and a 1 year high of $11.64. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 8.44.

Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, November 6th. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.13. Frontier Communications had a negative return on equity of 2.35% and a negative net margin of 16.69%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the company earned ($0.94) EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Frontier Communications will post -1.63 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTR. Canada Pension Plan Investment Board lifted its stake in shares of Frontier Communications by 1,042.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 848,243 shares of the utilities provider’s stock valued at $5,505,000 after purchasing an additional 774,008 shares in the last quarter. FMR LLC lifted its stake in shares of Frontier Communications by 11.4% in the 3rd quarter. FMR LLC now owns 921,912 shares of the utilities provider’s stock valued at $5,983,000 after purchasing an additional 94,667 shares in the last quarter. American International Group Inc. lifted its stake in shares of Frontier Communications by 34.6% in the 3rd quarter. American International Group Inc. now owns 82,112 shares of the utilities provider’s stock valued at $533,000 after purchasing an additional 21,095 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Frontier Communications by 32.8% in the 3rd quarter. BlackRock Inc. now owns 16,286,094 shares of the utilities provider’s stock valued at $105,696,000 after purchasing an additional 4,021,298 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Frontier Communications by 30.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,572,919 shares of the utilities provider’s stock valued at $10,208,000 after purchasing an additional 368,710 shares in the last quarter. 62.57% of the stock is currently owned by institutional investors and hedge funds.

About Frontier Communications

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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