Bank of New York Mellon Corp grew its holdings in Frontier Communications Corp (NASDAQ:FTR) by 34.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,763,908 shares of the utilities provider’s stock after purchasing an additional 708,309 shares during the quarter. Bank of New York Mellon Corp’s holdings in Frontier Communications were worth $18,684,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FTR. State of Alaska Department of Revenue acquired a new stake in Frontier Communications during the fourth quarter worth approximately $105,000. Quantbot Technologies LP acquired a new stake in Frontier Communications during the third quarter worth approximately $124,000. Engineers Gate Manager LP acquired a new stake in Frontier Communications during the third quarter worth approximately $138,000. Crossmark Global Holdings Inc. acquired a new stake in Frontier Communications during the third quarter worth approximately $146,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Frontier Communications during the third quarter worth approximately $174,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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Frontier Communications Corp (NASDAQ FTR) opened at $6.95 on Friday. The firm has a market cap of $544.94, a price-to-earnings ratio of -0.27 and a beta of 0.73. Frontier Communications Corp has a 1-year low of $6.08 and a 1-year high of $32.85. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 7.46.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, February 27th. The utilities provider reported ($0.59) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.12) by $0.53. Frontier Communications had a negative net margin of 19.76% and a negative return on equity of 3.95%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. equities research analysts expect that Frontier Communications Corp will post -2.39 earnings per share for the current year.

FTR has been the topic of a number of analyst reports. Vetr upgraded shares of 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. Morgan Stanley decreased their price target on shares of Frontier Communications from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday. Zacks Investment Research upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Tuesday, January 9th. BidaskClub lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Barclays started coverage on shares of Frontier Communications in a report on Friday, December 15th. They issued an “underweight” rating and a $7.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.39.

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About Frontier Communications

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

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