Frontier Communications (FTR) Stock Rating Upgraded by BidaskClub

Frontier Communications (NASDAQ:FTR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company restated a “market perform” rating and issued a $9.00 price objective (down from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a report on Friday, November 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $8.00 price objective (down from $16.00) on shares of Frontier Communications in a report on Monday, November 20th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Frontier Communications has an average rating of “Hold” and an average target price of $9.46.

Shares of Frontier Communications (NASDAQ:FTR) traded down $0.01 during mid-day trading on Tuesday, hitting $10.05. 4,658,234 shares of the stock were exchanged, compared to its average volume of 2,968,931. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $57.30. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted ($0.64) earnings per share. Frontier Communications’s revenue was down 10.8% compared to the same quarter last year. research analysts predict that Frontier Communications will post -4.17 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FTR. Gotham Asset Management LLC raised its holdings in Frontier Communications by 340.9% in the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock worth $22,941,000 after purchasing an additional 15,290,477 shares during the period. Vanguard Group Inc. raised its holdings in Frontier Communications by 9.9% in the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after purchasing an additional 10,474,703 shares during the period. Coatue Management LLC acquired a new stake in Frontier Communications in the second quarter worth $8,223,000. Quantitative Investment Management LLC increased its position in shares of Frontier Communications by 549.6% during the second quarter. Quantitative Investment Management LLC now owns 8,279,600 shares of the utilities provider’s stock worth $9,604,000 after acquiring an additional 7,005,100 shares in the last quarter. Finally, State Street Corp increased its position in shares of Frontier Communications by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after acquiring an additional 6,445,036 shares in the last quarter. Institutional investors own 67.62% of the company’s stock.

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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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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