Frontier Communications Corporation (NASDAQ:FTR) was downgraded by stock analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report issued on Wednesday. They presently have a $8.00 price objective on the utilities provider’s stock, down from their previous price objective of $17.00.

Other analysts also recently issued reports about the company. Cowen and Company restated a “market perform” rating on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Deutsche Bank AG reduced their target price on Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research upgraded Frontier Communications Corporation from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. BidaskClub downgraded Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 13th. Finally, ValuEngine downgraded Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Five investment 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 presently has an average rating of “Hold” and a consensus target price of $9.93.

Frontier Communications Corporation (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the business posted ($0.64) EPS. The business’s revenue was down 10.8% compared to the same quarter last year.

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Several institutional investors have recently bought and sold shares of the business. Bollard Group LLC lifted its position in shares of Frontier Communications Corporation by 3.3% during the 2nd 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 in the last quarter. Aviva PLC lifted its position in shares of Frontier Communications Corporation by 0.5% during the 2nd quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock worth $855,000 after buying an additional 3,410 shares in the last quarter. Amalgamated Bank lifted its position in shares of Frontier Communications Corporation by 2.0% during the 1st quarter. Amalgamated Bank now owns 185,340 shares of the utilities provider’s stock worth $397,000 after buying an additional 3,557 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Frontier Communications Corporation by 2.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 235,251 shares of the utilities provider’s stock worth $273,000 after buying an additional 5,888 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Frontier Communications Corporation by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 494,600 shares of the utilities provider’s stock worth $574,000 after buying an additional 6,600 shares in the last quarter.

About Frontier Communications Corporation

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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