Frontier Communications Corp (FTR) Position Lifted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its position in Frontier Communications Corp (NASDAQ:FTR) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,600 shares of the utilities provider’s stock after acquiring an additional 10,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Frontier Communications were worth $302,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in Frontier Communications by 5.5% in the first quarter. California State Teachers Retirement System now owns 160,765 shares of the utilities provider’s stock valued at $1,193,000 after acquiring an additional 8,365 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Frontier Communications by 32.2% in the third quarter. State of Alaska Department of Revenue now owns 34,641 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 8,441 shares during the last quarter. Royal Bank of Canada increased its stake in Frontier Communications by 38.3% in the first quarter. Royal Bank of Canada now owns 32,309 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 8,942 shares during the last quarter. Millennium Management LLC increased its stake in Frontier Communications by 7.4% in the first quarter. Millennium Management LLC now owns 131,299 shares of the utilities provider’s stock valued at $974,000 after acquiring an additional 9,006 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in Frontier Communications by 78.2% in the second quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 10,132 shares during the last quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on FTR shares. Zacks Investment Research upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Tuesday, July 3rd. Guggenheim restated a “sell” rating and issued a $4.20 target price on shares of Frontier Communications in a research report on Wednesday, August 1st. BidaskClub lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. Royal Bank of Canada restated a “hold” rating and issued a $6.00 target price on shares of Frontier Communications in a research report on Friday, August 3rd. Finally, ValuEngine upgraded shares of Frontier Communications from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.20.

Shares of Frontier Communications stock opened at $5.48 on Friday. Frontier Communications Corp has a fifty-two week low of $4.52 and a fifty-two week high of $12.19. The company has a debt-to-equity ratio of 6.75, a current ratio of 0.47 and a quick ratio of 0.47.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.03. Frontier Communications had a negative net margin of 12.06% and a negative return on equity of 2.48%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business posted ($1.10) earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts anticipate that Frontier Communications Corp will post -1.65 earnings per share for the current year.

Frontier Communications Company Profile

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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Institutional Ownership by Quarter for Frontier Communications (NASDAQ:FTR)

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