Frontier Communications Corporation (FTR) Lowered to Underperform at Hilliard Lyons

Hilliard Lyons lowered shares of Frontier Communications Corporation (NASDAQ:FTR) from a neutral rating to an underperform rating in a report issued on Thursday morning, Marketbeat.com reports.

Several other equities analysts also recently issued reports on FTR. Macquarie reissued a hold rating and issued a $2.65 target price on shares of Frontier Communications Corporation in a research report on Thursday, April 13th. Jefferies Group LLC reissued a buy rating and issued a $4.00 target price (up from $3.50) on shares of Frontier Communications Corporation in a research report on Friday, April 28th. Citigroup Inc. raised Frontier Communications Corporation from a sell rating to a neutral rating and set a $1.75 target price on the stock in a research report on Wednesday, May 3rd. UBS AG downgraded Frontier Communications Corporation from a buy rating to a neutral rating and cut their target price for the company from $3.50 to $2.00 in a research report on Wednesday, May 3rd. Finally, Cowen and Company downgraded Frontier Communications Corporation from an outperform rating to a market perform rating and cut their target price for the company from $4.00 to $2.00 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 assigned a strong buy rating to the stock. Frontier Communications Corporation presently has an average rating of Hold and a consensus target price of $5.21.

Frontier Communications Corporation (NASDAQ FTR) traded down 0.19% during trading on Thursday, hitting $15.84. The stock had a trading volume of 2,355,847 shares. The firm’s market cap is $1.23 billion. Frontier Communications Corporation has a 52-week low of $13.13 and a 52-week high of $74.70. The company’s 50 day moving average is $16.43 and its 200 day moving average is $30.01.

Frontier Communications Corporation (NASDAQ:FTR) last released its earnings results 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. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned ($0.29) earnings per share. Frontier Communications Corporation’s revenue was down 11.7% on a year-over-year basis. Equities research analysts forecast that Frontier Communications Corporation will post ($3.48) earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 15.12%. 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. Frontier Communications Corporation’s dividend payout ratio is presently -16.65%.

Large investors have recently bought and sold shares of the stock. Sigma Planning Corp raised its stake 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 during the last quarter. Keybank National Association OH raised its stake in Frontier Communications Corporation by 0.9% in the first quarter. Keybank National Association OH now owns 81,836 shares of the utilities provider’s stock valued at $175,000 after buying an additional 766 shares during the last quarter. Raymond James Trust N.A. raised its stake in Frontier Communications Corporation by 1.9% in the first quarter. Raymond James Trust N.A. now owns 125,270 shares of the utilities provider’s stock valued at $268,000 after buying an additional 2,358 shares during the last quarter. Thrivent Financial for Lutherans raised its stake 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 during the last quarter. Finally, Cadence Capital Management LLC raised its stake 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 during 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).