Fox Run Management L.L.C. Takes $217,000 Position in Frontier Communications Corporation (FTR)
Fox Run Management L.L.C. bought a new position in shares of Frontier Communications Corporation (NASDAQ:FTR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,400 shares of the utilities provider’s stock, valued at approximately $217,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bollard Group LLC boosted its holdings in Frontier Communications Corporation by 3.3% during the second quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock worth $108,000 after buying an additional 2,973 shares during the last quarter. Shelton Capital Management bought a new position in Frontier Communications Corporation during the second quarter worth about $111,000. GSA Capital Partners LLP bought a new position in Frontier Communications Corporation during the second quarter worth about $113,000. World Asset Management Inc boosted its holdings in Frontier Communications Corporation by 14.5% during the second quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after buying an additional 13,158 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its holdings in Frontier Communications Corporation by 85.1% during the second quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock worth $124,000 after buying an additional 49,329 shares during the last quarter.
A number of equities analysts have issued reports on FTR shares. Royal Bank Of Canada restated a “hold” rating and set a $16.00 target price on shares of Frontier Communications Corporation in a report on Sunday, September 17th. BidaskClub lowered Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Zacks Investment Research lowered Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. UBS AG reaffirmed a “neutral” rating and set a $15.00 price target (down previously from $26.25) on shares of Frontier Communications Corporation in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $25.00 price target (down previously from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Frontier Communications Corporation currently has an average rating of “Hold” and a consensus price target of $9.93.
Frontier Communications Corporation (NASDAQ:FTR) opened at $7.41 on Monday. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. Frontier Communications Corporation has a fifty-two week low of $7.36 and a fifty-two week high of $57.30.
Frontier Communications Corporation (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the firm earned ($0.64) EPS. Frontier Communications Corporation’s revenue was down 10.8% on a year-over-year basis. research analysts anticipate that Frontier Communications Corporation will post -4.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 32.39%. Frontier Communications Corporation’s payout ratio is presently -17.38%.
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Frontier Communications Corporation 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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