Shares of Frontier Communications Corp (NASDAQ:FTR) gapped down prior to trading on Wednesday . The stock had previously closed at $7.88, but opened at $7.83. Frontier Communications shares last traded at $7.93, with a volume of 1833469 shares.
A number of brokerages have recently weighed in on FTR. BidaskClub upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Jefferies Group cut shares of Frontier Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Vetr cut shares of Frontier Communications from a “buy” rating to a “hold” rating and set a $9.22 price objective for the company. in a research note on Thursday, February 15th. Barclays began coverage on shares of Frontier Communications in a research note on Friday, December 15th. They issued an “underweight” rating and a $7.00 price objective for the company. Finally, Guggenheim began coverage on shares of Frontier Communications in a research note on Tuesday. They issued a “sell” rating and a $6.00 price objective for the company. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.27.
The company has a market cap of $620.60, a P/E ratio of -0.21 and a beta of 0.76. The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.53 and a current ratio of 0.53.
Frontier Communications (NASDAQ:FTR) last released its earnings results on Tuesday, February 27th. The utilities provider reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.12) by $0.53. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Frontier Communications had a negative net margin of 19.76% and a negative return on equity of 3.95%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. research analysts predict that Frontier Communications Corp will post -2.38 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Capital Analysts LLC acquired a new position in Frontier Communications during the 4th quarter valued at $869,000. Quantbot Technologies LP acquired a new position in Frontier Communications during the 3rd quarter valued at $124,000. Engineers Gate Manager LP acquired a new position in Frontier Communications during the 3rd quarter valued at $138,000. Crossmark Global Holdings Inc. acquired a new position in Frontier Communications during the 3rd quarter valued at $146,000. Finally, Sciencast Management LP acquired a new position in Frontier Communications during the 4th quarter valued at $115,000. Hedge funds and other institutional investors own 71.04% 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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