Frontier Communications (NASDAQ:FTR) Rating Reiterated by Royal Bank Of Canada

Royal Bank Of Canada reissued their sector perform rating on shares of Frontier Communications (NASDAQ:FTR) in a report published on Monday, November 20th, Marketbeat Ratings reports. Royal Bank Of Canada currently has a $8.00 target price on the utilities provider’s stock, down from their prior target price of $16.00.

Several other brokerages have also recently issued reports on FTR. BidaskClub upgraded Frontier Communications from a strong sell rating to a sell rating in a research report on Monday, July 31st. Deutsche Bank reduced their price target on shares of Frontier Communications from $17.00 to $15.00 and set a hold rating on the stock in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of Frontier Communications from a hold rating to a sell rating in a research report on Tuesday, October 3rd. ValuEngine lowered shares of Frontier Communications from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co lowered shares of Frontier Communications from a neutral rating to an underweight rating and reduced their price target for the company from $17.00 to $8.00 in a research report on Wednesday, November 1st. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Frontier Communications currently has a consensus rating of Hold and an average target price of $9.46.

Shares of Frontier Communications (NASDAQ:FTR) traded down $0.33 during trading hours on Monday, hitting $8.77. The stock had a trading volume of 1,050,614 shares, compared to its average volume of 2,946,555. Frontier Communications has a 1 year low of $6.08 and a 1 year high of $57.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.01. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. Frontier Communications’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period last year, the company earned ($0.64) EPS. sell-side analysts predict that Frontier Communications will post -4.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 27.38%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications’s dividend payout ratio (DPR) is -17.38%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Shelton Capital Management purchased a new stake in shares of Frontier Communications during the second quarter valued at approximately $111,000. GSA Capital Partners LLP bought a new stake in Frontier Communications in the 2nd quarter worth about $113,000. World Asset Management Inc increased its holdings in Frontier Communications by 14.5% in the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after buying an additional 13,158 shares in the last quarter. Eqis Capital Management Inc. increased its holdings in Frontier Communications by 85.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock worth $124,000 after buying an additional 49,329 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Frontier Communications in the 3rd quarter worth about $124,000. 67.64% of the stock is owned by institutional investors and hedge funds.

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Frontier Communications 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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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