Frontier Communications Corporation (FTR) Shares Sold by Commonwealth Equity Services Inc
Commonwealth Equity Services Inc lowered its position in Frontier Communications Corporation (NASDAQ:FTR) by 93.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,178 shares of the utilities provider’s stock after selling 279,219 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Frontier Communications were worth $226,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Shelton Capital Management bought a new stake in Frontier Communications during the 2nd quarter valued at $111,000. GSA Capital Partners LLP bought a new stake in Frontier Communications during the 2nd quarter valued at $113,000. World Asset Management Inc boosted its position in Frontier Communications by 14.5% during the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 13,158 shares in the last quarter. Quantbot Technologies LP bought a new stake in Frontier Communications during the 3rd quarter valued at $124,000. Finally, MML Investors Services LLC boosted its position in Frontier Communications by 204.3% during the 2nd quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 79,473 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.
FTR has been the topic of several recent research reports. BidaskClub raised Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Deutsche Bank dropped their target price on Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Zacks Investment Research cut Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine cut Frontier Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co lowered Frontier Communications from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $17.00 to $8.00 in a report on Wednesday, November 1st. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.46.
Shares of Frontier Communications Corporation (NASDAQ FTR) opened at $9.20 on Tuesday. Frontier Communications Corporation has a twelve month low of $6.08 and a twelve month high of $57.30. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16.
Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.01. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business posted ($0.64) EPS. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. analysts predict that Frontier Communications Corporation will post -4.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 26.09%. Frontier Communications’s dividend payout ratio (DPR) is -17.45%.
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Frontier Communications 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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