Oregon Public Employees Retirement Fund lowered its stake in shares of Frontier Communications Corporation (NASDAQ:FTR) by 93.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,458 shares of the utilities provider’s stock after selling 514,739 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Frontier Communications Corporation were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. FNY Partners Fund LP increased its holdings in 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 valued at $174,000 after buying an additional 9,000 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Frontier Communications Corporation in the third quarter valued at $146,000. Fox Run Management L.L.C. purchased a new position in Frontier Communications Corporation in the third quarter valued at $217,000. Fiera Capital Corp purchased a new position in Frontier Communications Corporation in the second quarter valued at $905,000. Finally, Stevens Capital Management LP purchased a new position in Frontier Communications Corporation in the third quarter valued at $844,000.
FTR has been the topic of several recent analyst reports. Zacks Investment Research raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. ValuEngine lowered Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company reissued a “market perform” rating and issued a $9.00 target price (down previously from $14.50) on shares of Frontier Communications Corporation in a report on Thursday, November 2nd. Finally, Vetr lowered Frontier Communications Corporation from a “strong-buy” rating to a “buy” rating and set a $13.35 target price on the stock. in a report on Tuesday, October 31st. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.04.
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Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at $6.66 on Thursday. Frontier Communications Corporation has a 12 month low of $6.25 and a 12 month high of $57.30. 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 (NASDAQ:FTR) last announced 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 business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned ($0.64) earnings per share. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. sell-side analysts forecast that Frontier Communications Corporation will post -4.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 36.04%. Frontier Communications Corporation’s dividend payout ratio (DPR) is -17.38%.
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).
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