Shares of Frontier Communications (NASDAQ:FTR) fell 0% during trading on Wednesday . The company traded as low as $8.34 and last traded at $8.36. 6,345,291 shares were traded during trading, an increase of 98% from the average session volume of 3,208,979 shares. The stock had previously closed at $8.36.
A number of research firms have recently commented on FTR. BidaskClub upgraded Frontier Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 12th. Barclays reiterated a “sell” rating on shares of Frontier Communications in a research report on Thursday, May 3rd. Guggenheim began coverage on Frontier Communications in a research report on Tuesday, March 13th. They set a “sell” rating and a $6.00 target price on the stock. Vetr upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 target price on the stock in a research report on Wednesday, February 21st. Finally, Morgan Stanley cut their target price on Frontier Communications from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, March 19th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Frontier Communications currently has an average rating of “Hold” and an average price target of $10.73.
The stock has a market cap of $769.33 million, a PE ratio of -2.21 and a beta of 0.63. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 6.87.
Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, May 1st. The utilities provider reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $0.25. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Frontier Communications had a negative return on equity of 3.06% and a negative net margin of 19.05%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. research analysts forecast that Frontier Communications will post -2.24 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in FTR. State of Alaska Department of Revenue purchased a new stake in Frontier Communications in the 4th quarter valued at approximately $105,000. Nomura Asset Management Co. Ltd. purchased a new stake in Frontier Communications in the 1st quarter valued at approximately $114,000. Sciencast Management LP purchased a new stake in Frontier Communications in the 4th quarter valued at approximately $115,000. Edgestream Partners L.P. purchased a new stake in Frontier Communications in the 4th quarter valued at approximately $117,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Frontier Communications in the 1st quarter valued at approximately $119,000. 65.76% of the stock is currently owned by institutional investors.
About Frontier Communications
Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.
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