Frontier Communications Corporation (FTR) Receives $9.88 Average Target Price from Analysts

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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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