Frontier Communications Corporation (FTR) Downgraded by J P Morgan Chase & Co

Frontier Communications Corporation (NASDAQ:FTR) was downgraded by investment analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report issued on Wednesday, November 1st, Marketbeat reports. They currently have a $8.00 price objective on the utilities provider’s stock, down from their prior price objective of $17.00. J P Morgan Chase & Co’s price target would suggest a potential upside of 18.17% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Cowen and Company reaffirmed a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Deutsche Bank AG reduced their price target on shares of Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Zacks Investment Research raised shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 14th. BidaskClub downgraded shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Finally, ValuEngine downgraded shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.93.

Shares of Frontier Communications Corporation (NASDAQ:FTR) traded down $1.19 on Wednesday, reaching $6.77. 8,011,800 shares of the company’s stock traded hands, compared to its average volume of 2,823,098. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16. Frontier Communications Corporation has a one year low of $6.72 and a one year high of $57.30.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation had a negative net margin of 9.17% and a negative return on equity of 1.97%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted ($0.64) earnings per share. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. equities analysts anticipate that Frontier Communications Corporation will post -4.74 EPS for the current year.

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A number of large investors have recently bought and sold shares of FTR. FNY Partners Fund LP increased its position in shares of Frontier Communications Corporation by 900.0% in the second quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock worth $174,000 after acquiring an additional 9,000 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Frontier Communications Corporation in the third quarter worth $124,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Frontier Communications Corporation in the third quarter worth $146,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Frontier Communications Corporation in the third quarter worth $174,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Frontier Communications Corporation in the third quarter worth $217,000.

About Frontier Communications Corporation

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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