Frontier Communications (FTR) Coverage Initiated at Barclays
Analysts at Barclays initiated coverage on shares of Frontier Communications (NASDAQ:FTR) in a research report issued to clients and investors on Friday. The firm set an “underweight” rating and a $7.00 price target on the utilities provider’s stock. Barclays’ price target suggests a potential downside of 13.37% from the company’s current price.
Several other brokerages have also commented on FTR. BidaskClub upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Royal Bank of Canada restated a “hold” rating and issued a $16.00 price objective on shares of Frontier Communications in a report on Sunday, September 17th. Deutsche Bank decreased their price objective on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Finally, Zacks Investment Research lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.30.
Frontier Communications (FTR) opened at $8.08 on Friday. 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 has a 1-year low of $6.08 and a 1-year high of $57.30.
Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business earned ($0.64) EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. equities analysts forecast that Frontier Communications will post -4.17 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new stake in Frontier Communications during the 3rd quarter valued at about $176,000. Engineers Gate Manager LP bought a new stake in Frontier Communications during the 3rd quarter valued at about $138,000. Pinnacle Associates Ltd. bought a new stake in Frontier Communications during the 3rd quarter valued at about $535,000. Virginia Retirement Systems ET AL bought a new stake in Frontier Communications during the 3rd quarter valued at about $174,000. Finally, SG Americas Securities LLC increased its stake in Frontier Communications by 109.9% during the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 357,493 shares in the last quarter. Institutional investors and hedge funds own 67.62% of the company’s stock.
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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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