Frontier Communications Corporation (NASDAQ:FTR) has been given an average rating of “Hold” by the twenty ratings firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.88.
FTR has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Wells Fargo & Co restated a “market perform” rating and issued a $9.00 target price (down from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Barclays initiated coverage on shares of Frontier Communications in a report on Friday, December 15th. They issued an “underweight” rating and a $7.00 target price on the stock. Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a report on Friday, November 10th. Finally, BidaskClub lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th.
Frontier Communications (NASDAQ FTR) traded up $0.56 during trading on Tuesday, hitting $7.77. 3,660,842 shares of the company traded hands, compared to its average volume of 3,740,000. Frontier Communications has a 1-year low of $6.08 and a 1-year high of $53.70. 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 stock has a market cap of $609.62, a price-to-earnings ratio of -0.57 and a beta of 0.52.
Frontier Communications (NASDAQ:FTR) last released its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.95) by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) EPS. research analysts forecast that Frontier Communications will post -4.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 30.89%. Frontier Communications’s payout ratio is currently -17.45%.
Several hedge funds have recently made changes to their positions in FTR. Schwab Charles Investment Management Inc. lifted its holdings in shares of Frontier Communications by 91.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,657,284 shares of the utilities provider’s stock worth $7,723,000 after acquiring an additional 3,179,346 shares during the period. Comerica Bank lifted its holdings in shares of Frontier Communications by 1.3% during the 2nd quarter. Comerica Bank now owns 940,739 shares of the utilities provider’s stock worth $997,000 after acquiring an additional 12,067 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Frontier Communications by 2.5% during the 2nd quarter. Federated Investors Inc. PA now owns 671,875 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 16,302 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Frontier Communications by 4.3% during the 2nd quarter. Prudential Financial Inc. now owns 782,845 shares of the utilities provider’s stock worth $908,000 after acquiring an additional 32,418 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Frontier Communications by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 4,940,323 shares of the utilities provider’s stock worth $5,730,000 after acquiring an additional 201,711 shares during the period. Institutional investors and hedge funds own 62.90% of the company’s stock.
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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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