Frontier Communications Corporation (FTR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Frontier Communications Corporation (NASDAQ:FTR) have been given an average recommendation of “Hold” by the twenty ratings firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.88.

Several research firms have issued reports on FTR. BidaskClub raised shares of Frontier Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Deutsche Bank lowered their price objective 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 issued a $14.00 price objective 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 cut shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price objective for the company. in a research report on Friday, November 10th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Frontier Communications by 9.9% during the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock valued at $135,488,000 after acquiring an additional 10,474,703 shares during the last quarter. State Street Corp lifted its position in Frontier Communications by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock valued at $57,507,000 after acquiring an additional 6,445,036 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Frontier Communications by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after acquiring an additional 1,757,905 shares during the last quarter. Gotham Asset Management LLC lifted its position in Frontier Communications by 340.9% during the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock valued at $22,941,000 after acquiring an additional 15,290,477 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Frontier Communications by 43.8% during the second quarter. Northern Trust Corp now owns 17,209,093 shares of the utilities provider’s stock valued at $19,963,000 after acquiring an additional 5,238,840 shares during the last quarter. 62.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Frontier Communications (NASDAQ:FTR) traded down $0.23 during trading hours on Friday, reaching $7.11. 3,643,400 shares of the company traded hands, compared to its average volume of 3,046,181. Frontier Communications has a one year low of $6.08 and a one year 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 (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.01. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.64) EPS. equities analysts forecast that Frontier Communications will post -4.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 33.76%. Frontier Communications’s payout ratio is presently -17.38%.

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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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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