Frontier Communications Corporation (FTR) Short Interest Up 10.6% in June

Frontier Communications Corporation (NASDAQ:FTR) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 327,245,630 shares, a growth of 10.6% from the June 15th total of 295,938,261 shares. Based on an average daily trading volume, of 42,821,310 shares, the days-to-cover ratio is presently 7.6 days.

Shares of Frontier Communications Corporation (NASDAQ FTR) opened at 13.93 on Wednesday. The firm’s market cap is $1.09 billion. Frontier Communications Corporation has a 12 month low of $13.13 and a 12 month high of $78.30. The stock’s 50 day moving average is $1.28 and its 200 day moving average is $2.41.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.03. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.34 billion. Frontier Communications Corporation had a negative net margin of 2.65% and a positive return on equity of 0.19%. On average, analysts anticipate that Frontier Communications Corporation will post ($3.78) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, June 13th. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -38.11%.

A number of research firms have commented on FTR. Vetr raised shares of Frontier Communications Corporation from a “buy” rating to a “strong-buy” rating and set a $3.09 target price on the stock in a research report on Monday, March 27th. UBS Group AG cut shares of Frontier Communications Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $3.50 to $2.00 in a research report on Wednesday, May 3rd. Cowen and Company cut shares of Frontier Communications Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $4.00 to $2.00 in a research report on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $2.00 target price (down previously from $3.00) on shares of Frontier Communications Corporation in a research report on Wednesday, May 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $4.00 target price (up previously from $3.50) on shares of Frontier Communications Corporation in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.95.

A number of institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its stake in Frontier Communications Corporation by 9.8% in the fourth quarter. First Republic Investment Management Inc. now owns 29,657 shares of the utilities provider’s stock valued at $101,000 after buying an additional 2,652 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Frontier Communications Corporation during the fourth quarter valued at about $128,000. Tudor Investment Corp Et Al acquired a new stake in Frontier Communications Corporation during the fourth quarter valued at about $134,000. Thrivent Financial for Lutherans increased its stake in Frontier Communications Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,509 shares of the utilities provider’s stock valued at $141,000 after buying an additional 2,570 shares in the last quarter. Finally, Searle & CO. acquired a new stake in Frontier Communications Corporation during the fourth quarter valued at about $153,000.

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Frontier Communications Corporation 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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