BidaskClub Lowers Frontier Communications Corporation (FTR) to Strong Sell

BidaskClub cut shares of Frontier Communications Corporation (NASDAQ:FTR) from a sell rating to a strong sell rating in a research note released on Wednesday, October 18th.

Several other research analysts have also weighed in on FTR. Zacks Investment Research lowered shares of Frontier Communications Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. ValuEngine lowered shares of Frontier Communications Corporation from a sell rating to a strong sell rating in a research note on Friday, September 1st. Morgan Stanley decreased their price target on shares of Frontier Communications Corporation to $16.00 and set an equal weight rating on the stock in a research note on Wednesday, August 23rd. Hilliard Lyons lowered shares of Frontier Communications Corporation from a neutral rating to an underperform rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a buy rating and issued a $25.00 price target (down previously from $30.00) on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $8.94.

Frontier Communications Corporation (NASDAQ FTR) traded up 2.26% during mid-day trading on Wednesday, reaching $11.74. The company’s stock had a trading volume of 3,936,348 shares. Frontier Communications Corporation has a 52 week low of $11.16 and a 52 week high of $61.35. The firm has a 50-day moving average of $12.18 and a 200-day moving average of $16.99. The stock’s market capitalization is $921.78 million.

Frontier Communications Corporation (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted ($0.29) earnings per share. The company’s revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts expect that Frontier Communications Corporation will post ($4.13) earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of FTR. UBS Asset Management Americas Inc. increased its position in shares of Frontier Communications Corporation by 10.8% during the first quarter. UBS Asset Management Americas Inc. now owns 3,404,036 shares of the utilities provider’s stock worth $7,285,000 after buying an additional 332,953 shares during the period. KBC Group NV increased its position in shares of Frontier Communications Corporation by 31.3% during the first quarter. KBC Group NV now owns 107,233 shares of the utilities provider’s stock worth $229,000 after buying an additional 25,563 shares during the period. Principal Financial Group Inc. increased its position in shares of Frontier Communications Corporation by 165.7% during the first quarter. Principal Financial Group Inc. now owns 4,738,612 shares of the utilities provider’s stock worth $10,141,000 after buying an additional 2,954,907 shares during the period. California Public Employees Retirement System increased its position in shares of Frontier Communications Corporation by 2.7% during the first quarter. California Public Employees Retirement System now owns 3,614,370 shares of the utilities provider’s stock worth $7,735,000 after buying an additional 95,400 shares during the period. Finally, Ngam Advisors L.P. acquired a new stake in shares of Frontier Communications Corporation during the first quarter worth $804,000.

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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