BidaskClub upgraded shares of Frontier Communications Corporation (NASDAQ:FTR) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Frontier Communications Corporation from a buy rating to a hold rating in a research note on Monday, July 17th. ValuEngine raised Frontier Communications Corporation from a sell rating to a hold rating in a research note on Tuesday, July 11th. Morgan Stanley reduced their price objective on Frontier Communications Corporation from $2.30 to $1.50 and set an equal weight rating for the company in a research note on Wednesday, June 14th. UBS AG reaffirmed a buy rating on shares of Frontier Communications Corporation in a research report on Thursday, May 4th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $2.00 target price (down from $3.00) on shares of Frontier Communications Corporation in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Frontier Communications Corporation presently has a consensus rating of Hold and an average target price of $5.21.
Frontier Communications Corporation (NASDAQ FTR) traded down 14.72% during midday trading on Monday, hitting $14.54. 6,565,358 shares of the stock were exchanged. The stock’s market cap is $1.14 billion. The firm has a 50-day moving average price of $16.43 and a 200-day moving average price of $30.01. Frontier Communications Corporation has a one year low of $13.13 and a one year high of $74.70.
Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by $0.03. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.21% and a negative net margin of 9.35%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) earnings per share. On average, equities research analysts anticipate that Frontier Communications Corporation will post ($3.60) EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.60 per share. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.51%. Frontier Communications Corporation’s dividend payout ratio is currently -16.65%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Frontier Communications Corporation during the fourth quarter valued at about $128,000. Thrivent Financial for Lutherans boosted its position in Frontier Communications Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,509 shares of the utilities provider’s stock valued at $141,000 after buying an additional 2,570 shares in the last quarter. Searle & CO. purchased a new position in Frontier Communications Corporation during the fourth quarter valued at about $153,000. Cadence Capital Management LLC boosted its position in Frontier Communications Corporation by 6.1% in the first quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider’s stock valued at $100,000 after buying an additional 2,661 shares in the last quarter. Finally, Sigma Planning Corp boosted its position in Frontier Communications Corporation by 0.8% in the first quarter. Sigma Planning Corp now owns 48,578 shares of the utilities provider’s stock valued at $104,000 after buying an additional 362 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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