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.
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).
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