Frontier Communications (FTR) Trading Down 1.2%

Frontier Communications Corp (NASDAQ:FTR) shares fell 1.2% on Thursday . The company traded as low as $4.02 and last traded at $4.00. 137,180 shares were traded during trading, a decline of 96% from the average session volume of 3,193,051 shares. The stock had previously closed at $4.05.

A number of research firms have weighed in on FTR. BidaskClub upgraded Frontier Communications from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada restated a “hold” rating and issued a $6.00 price target on shares of Frontier Communications in a research note on Friday, August 3rd. Zacks Investment Research downgraded Frontier Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, UBS Group downgraded Frontier Communications from a “neutral” rating to a “sell” rating and cut their price target for the stock from $6.00 to $3.00 in a research note on Wednesday. Seven investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Frontier Communications presently has an average rating of “Hold” and a consensus price target of $5.94.

The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 8.44. The company has a market capitalization of $429.06 million, a price-to-earnings ratio of -1.02 and a beta of 0.83.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.13. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.12 billion. Frontier Communications had a negative return on equity of 2.35% and a negative net margin of 16.69%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) EPS. On average, analysts forecast that Frontier Communications Corp will post -1.63 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Frontier Communications by 11.5% in the 2nd quarter. BlackRock Inc. now owns 12,264,796 shares of the utilities provider’s stock valued at $65,739,000 after acquiring an additional 1,263,245 shares in the last quarter. Principal Financial Group Inc. lifted its position in Frontier Communications by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 612,090 shares of the utilities provider’s stock valued at $4,541,000 after acquiring an additional 13,460 shares in the last quarter. California State Teachers Retirement System lifted its position in Frontier Communications by 5.5% in the 1st quarter. California State Teachers Retirement System now owns 160,765 shares of the utilities provider’s stock valued at $1,193,000 after acquiring an additional 8,365 shares in the last quarter. Royal Bank of Canada lifted its position in Frontier Communications by 38.3% in the 1st quarter. Royal Bank of Canada now owns 32,309 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 8,942 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in Frontier Communications in the 2nd quarter valued at approximately $153,000. 62.57% of the stock is currently owned by institutional investors and hedge funds.

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Frontier Communications Company Profile (NASDAQ:FTR)

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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