Frontier Communications (NASDAQ:FTR) had its target price decreased by investment analysts at Morgan Stanley from $10.00 to $5.00 in a report issued on Monday. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 38.50% from the company’s current price.

Several other brokerages have also issued reports on FTR. BidaskClub lowered Frontier Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Cowen set a $6.00 target price on Frontier Communications and gave the company a “hold” rating in a research report on Tuesday, July 31st. Guggenheim reaffirmed a “sell” rating and set a $4.20 target price on shares of Frontier Communications in a research report on Wednesday, August 1st. ValuEngine raised Frontier Communications from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, UBS Group lowered Frontier Communications from a “neutral” rating to a “sell” rating and reduced their target price for the company from $6.00 to $3.00 in a research report on Wednesday, November 7th. Six research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.38.

Shares of NASDAQ FTR opened at $3.61 on Monday. The company has a debt-to-equity ratio of 8.44, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $413.75 million, a P/E ratio of -0.95 and a beta of 0.83. Frontier Communications has a 1-year low of $3.49 and a 1-year high of $11.64.

Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, November 6th. The utilities provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.13. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Frontier Communications had a negative return on equity of 2.35% and a negative net margin of 16.69%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.94) EPS. As a group, equities analysts forecast that Frontier Communications will post -1.69 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Frontier Communications by 11.5% in the second quarter. BlackRock Inc. now owns 12,264,796 shares of the utilities provider’s stock valued at $65,739,000 after purchasing an additional 1,263,245 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Frontier Communications by 2.2% in the first quarter. Principal Financial Group Inc. now owns 612,090 shares of the utilities provider’s stock valued at $4,541,000 after purchasing an additional 13,460 shares during the period. California State Teachers Retirement System increased its holdings in shares of Frontier Communications by 5.5% in the first quarter. California State Teachers Retirement System now owns 160,765 shares of the utilities provider’s stock valued at $1,193,000 after purchasing an additional 8,365 shares during the period. Royal Bank of Canada increased its holdings in shares of Frontier Communications by 38.3% in the first quarter. Royal Bank of Canada now owns 32,309 shares of the utilities provider’s stock valued at $239,000 after purchasing an additional 8,942 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Frontier Communications in the second quarter valued at about $153,000. 71.60% 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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