Frontier Communications (NASDAQ:FTR) released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.59) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.12) by $0.53, Bloomberg Earnings reports. Frontier Communications had a negative net margin of 19.76% and a negative return on equity of 3.95%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year.
Shares of Frontier Communications (NASDAQ FTR) traded up $0.08 on Wednesday, hitting $7.91. 3,959,055 shares of the stock traded hands, compared to its average volume of 3,240,186. Frontier Communications has a 52 week low of $6.08 and a 52 week high of $38.40. The firm has a market cap of $619.82, a price-to-earnings ratio of -0.21 and a beta of 0.76. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 7.46.
FTR has been the topic of several research reports. Guggenheim initiated coverage on shares of Frontier Communications in a research note on Tuesday. They issued a “sell” rating and a $6.00 price objective on the stock. Jefferies Group lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. BidaskClub upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Vetr upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 price objective on the stock in a research note on Wednesday, February 21st. Finally, Zacks Investment Research lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.27.
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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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