Frontier Communications Corporation (FTR) Upgraded to “Hold” at BidaskClub
BidaskClub upgraded shares of Frontier Communications Corporation (NASDAQ:FTR) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
Several other research firms have also recently weighed in on FTR. Hilliard Lyons cut Frontier Communications Corporation from a neutral rating to an underperform rating in a research report on Wednesday, August 9th. UBS AG reiterated a neutral rating and issued a $15.00 price objective (down from $26.25) on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Royal Bank of Canada reiterated a sector perform rating and issued a $16.00 price objective on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Cowen and Company reiterated a market perform rating on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $9.00 price objective (down from $14.50) on shares of Frontier Communications Corporation in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $9.93.
Shares of Frontier Communications Corporation (NASDAQ FTR) traded down $1.19 during midday trading on Thursday, hitting $6.77. The company had a trading volume of 8,011,800 shares, compared to its average volume of 2,823,098. Frontier Communications Corporation has a twelve month low of $6.72 and a twelve month high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.
Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating 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 firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted ($0.64) earnings per share. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. research analysts expect that Frontier Communications Corporation will post -4.74 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 35.45%. The ex-dividend date is Thursday, December 14th. Frontier Communications Corporation’s dividend payout ratio is -17.38%.
A number of large investors have recently bought and sold shares of FTR. Bollard Group LLC lifted its holdings in 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. Shelton Capital Management acquired a new position in Frontier Communications Corporation during the 2nd quarter worth $111,000. GSA Capital Partners LLP acquired a new position in Frontier Communications Corporation during the 2nd quarter worth $113,000. World Asset Management Inc lifted its holdings in Frontier Communications Corporation by 14.5% during the 2nd 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 in the last quarter. Finally, Eqis Capital Management Inc. lifted its holdings in Frontier Communications Corporation by 85.1% during the 2nd 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 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).
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