Frontier Communications Corporation (NASDAQ:FTR) released its quarterly earnings results on Tuesday. The utilities provider reported ($1.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by $0.03, Bloomberg Earnings reports. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative net margin of 2.65% and a positive return on equity of 0.19%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share.
Shares of Frontier Communications Corporation (NASDAQ FTR) traded up 3.79% during trading on Tuesday, reaching $15.89. 3,057,874 shares of the company traded hands. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $78.30. The stock’s 50 day moving average is $16.52 and its 200 day moving average is $30.28. The company’s market capitalization is $1.25 billion.
The firm also recently declared 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 represents a $2.40 annualized dividend and a yield of 15.10%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. Frontier Communications Corporation’s dividend payout ratio is -38.11%.
FTR has been the subject of several analyst reports. Macquarie reissued a “hold” rating and set a $2.65 price target on shares of Frontier Communications Corporation in a research report on Thursday, April 13th. BidaskClub raised shares of Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday. ValuEngine raised shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Wednesday, July 5th. Finally, UBS AG reissued a “buy” rating on shares of Frontier Communications Corporation in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.97.
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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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