Frontier Communications (FTR) Trading 6.6% Higher
Frontier Communications Corporation (NASDAQ:FTR) traded up 6.6% during mid-day trading on Friday . The stock traded as high as $10.25 and last traded at $9.75. 4,732,777 shares were traded during mid-day trading, an increase of 60% from the average session volume of 2,954,478 shares. The stock had previously closed at $9.15.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Deutsche Bank cut their target price on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, October 10th. Cowen reissued a “hold” rating and set a $14.00 target price on shares of Frontier Communications in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price for the company. in a research report on Friday, November 10th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.46.
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 (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the 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 company 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 firm posted ($0.64) EPS. The business’s revenue was down 10.8% compared to the same quarter last year. equities analysts forecast that Frontier Communications Corporation will post -4.17 EPS for the current year.
The firm 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 24.62%. Frontier Communications’s payout ratio is currently -17.38%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Partners Fund LP grew its stake in Frontier Communications by 900.0% during the second quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock worth $174,000 after buying an additional 9,000 shares during the last quarter. Quantbot Technologies LP bought a new stake in Frontier Communications during the third quarter worth about $124,000. Engineers Gate Manager LP bought a new stake in Frontier Communications during the third quarter worth about $138,000. Crossmark Global Holdings Inc. bought a new stake in Frontier Communications during the third quarter worth about $146,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Frontier Communications during the third quarter worth about $174,000. 67.64% of the stock is currently owned by institutional investors and hedge funds.
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About Frontier Communications
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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