Frontier Communications (FTR) Trading Down 7.8%

Frontier Communications Corp (NASDAQ:FTR) shares dropped 7.8% on Thursday . The company traded as low as $1.75 and last traded at $1.78. Approximately 4,439,073 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 4,091,532 shares. The stock had previously closed at $1.93.

FTR has been the topic of a number of recent research reports. Zacks Investment Research raised Frontier Communications from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Tuesday, January 29th. Raymond James downgraded Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 target price on the stock. in a report on Tuesday, February 19th. BidaskClub raised Frontier Communications from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Cowen reissued a “hold” rating and issued a $3.00 target price on shares of Frontier Communications in a report on Wednesday, February 27th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $3.00 target price on shares of Frontier Communications in a report on Wednesday, February 27th. Seven research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Frontier Communications presently has an average rating of “Sell” and a consensus price target of $3.47.

The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 10.77. The company has a market capitalization of $186.37 million, a P/E ratio of -1.32 and a beta of 1.29.



Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.27. Frontier Communications had a negative return on equity of 2.14% and a negative net margin of 8.81%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the company earned ($0.58) earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities analysts predict that Frontier Communications Corp will post -0.88 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Frontier Communications by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 869,284 shares of the utilities provider’s stock valued at $2,068,000 after purchasing an additional 4,526 shares during the period. The Manufacturers Life Insurance Company raised its stake in Frontier Communications by 8.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 70,416 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 5,247 shares during the period. Comerica Bank raised its stake in Frontier Communications by 5.3% during the 1st quarter. Comerica Bank now owns 124,891 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 6,293 shares during the period. Royce & Associates LP raised its stake in Frontier Communications by 60.2% during the 4th quarter. Royce & Associates LP now owns 18,828 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 7,076 shares during the period. Finally, California State Teachers Retirement System raised its stake in Frontier Communications by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 257,698 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 8,586 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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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 Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises.

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