Frontier Communications Corporation (FTR) Upgraded at BidaskClub

BidaskClub upgraded shares of Frontier Communications Corporation (NASDAQ:FTR) from a sell rating to a hold rating in a research note released on Thursday.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada reiterated a hold rating and set a $16.00 price objective on shares of Frontier Communications Corporation in a research note on Sunday, September 17th. Zacks Investment Research lowered Frontier Communications Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. UBS AG reiterated a neutral rating and set a $15.00 price objective (down from $26.25) on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Jefferies Group LLC reiterated a buy rating and set a $25.00 price objective (down from $30.00) on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Finally, Hilliard Lyons lowered Frontier Communications Corporation from a neutral rating to an underperform rating in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $9.93.

Shares of Frontier Communications Corporation (FTR) traded down $1.19 during trading on Thursday, hitting $6.77. The company had a trading volume of 8,011,800 shares, compared to its average volume of 4,049,559. 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 Corporation has a 1 year low of $6.72 and a 1 year high of $57.30.

Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the business earned ($0.64) EPS. Frontier Communications Corporation’s revenue for the quarter was down 10.8% compared to the same quarter last year. analysts forecast that Frontier Communications Corporation will post -4.11 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.60 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 35.45%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -17.38%.

Hedge funds have recently bought and sold shares of the company. Fiera Capital Corp purchased a new stake in shares of Frontier Communications Corporation in the second quarter valued at approximately $905,000. Tudor Investment Corp ET AL grew its position in shares of Frontier Communications Corporation by 259.9% in the first quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 103,170 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Frontier Communications Corporation by 9.9% in the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock valued at $135,488,000 after purchasing an additional 10,474,703 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Frontier Communications Corporation by 53.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 381,695 shares of the utilities provider’s stock valued at $443,000 after purchasing an additional 132,156 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Frontier Communications Corporation by 43.8% in the second quarter. Northern Trust Corp now owns 17,209,093 shares of the utilities provider’s stock valued at $19,963,000 after purchasing an additional 5,238,840 shares in the last quarter.

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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