Frontier Communications Corporation (NASDAQ:FTR) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other brokerages have also issued reports on FTR. UBS AG reaffirmed a “buy” rating on shares of Frontier Communications Corporation in a research report on Thursday, May 4th. BidaskClub raised Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 20th. Morgan Stanley reduced their target price on Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating on the stock in a research report on Wednesday, June 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Finally, Hilliard Lyons lowered Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.14.

Frontier Communications Corporation (NASDAQ:FTR) traded up 2.67% during midday trading on Friday, reaching $13.83. The company had a trading volume of 1,249,664 shares. Frontier Communications Corporation has a 1-year low of $11.65 and a 1-year high of $72.00. The firm has a 50-day moving average of $14.42 and a 200 day moving average of $24.35. The company’s market capitalization is $1.09 billion.

Frontier Communications Corporation (NASDAQ:FTR) last announced its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by $0.03. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities research analysts forecast that Frontier Communications Corporation will post ($4.13) EPS for the current year.

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Several hedge funds have recently modified their holdings of FTR. Lord Abbett & CO. LLC increased its stake in shares of Frontier Communications Corporation by 0.7% in the second quarter. Lord Abbett & CO. LLC now owns 2,755,300 shares of the utilities provider’s stock worth $3,196,000 after buying an additional 20,500 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Frontier Communications Corporation by 30.0% in the second quarter. Ameritas Investment Partners Inc. now owns 449,395 shares of the utilities provider’s stock worth $521,000 after buying an additional 103,589 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Frontier Communications Corporation by 53.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 381,695 shares of the utilities provider’s stock worth $443,000 after buying an additional 132,156 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Frontier Communications Corporation during the second quarter worth approximately $4,048,000. Finally, State Street Corp increased its stake in shares of Frontier Communications Corporation by 14.9% in the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after buying an additional 6,445,036 shares during the last quarter.

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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