New York State Common Retirement Fund lessened its holdings in Frontier Communications Corporation (NASDAQ:FTR) by 52.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,174,400 shares of the utilities provider’s stock after selling 1,315,401 shares during the period. New York State Common Retirement Fund owned approximately 1.51% of Frontier Communications Corporation worth $1,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FTR. Bollard Group LLC increased its position in Frontier Communications Corporation by 3.3% in the second quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 2,973 shares during the last quarter. World Asset Management Inc increased its position in Frontier Communications Corporation by 14.5% in the second quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 13,158 shares during the last quarter. Eqis Capital Management Inc. increased its position in Frontier Communications Corporation by 85.1% in the second quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 49,329 shares during the last quarter. Washington Trust Bank increased its position in Frontier Communications Corporation by 13.8% in the second quarter. Washington Trust Bank now owns 117,578 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 14,232 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Frontier Communications Corporation by 27.9% in the first quarter. Oppenheimer & Co. Inc. now owns 64,788 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 14,124 shares during the last quarter.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://theolympiareport.com/2017/10/31/new-york-state-common-retirement-fund-trims-position-in-frontier-communications-corporation-ftr.html.

Several research analysts have commented on the stock. Hilliard Lyons lowered shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. UBS AG reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Morgan Stanley dropped their price objective on shares of Frontier Communications Corporation to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 23rd. BidaskClub lowered shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Frontier Communications Corporation currently has a consensus rating of “Hold” and a consensus target price of $8.94.

Shares of Frontier Communications Corporation (NASDAQ FTR) opened at 11.88 on Tuesday. The stock’s market capitalization is $932.77 million. The stock’s 50 day moving average is $12.15 and its 200-day moving average is $16.67. Frontier Communications Corporation has a 52 week low of $11.16 and a 52 week high of $61.05.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.29) earnings per share. On average, analysts anticipate that Frontier Communications Corporation will post ($4.13) earnings per share for the current fiscal year.

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).

Want to see what other hedge funds are holding FTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Frontier Communications Corporation (NASDAQ:FTR).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

Receive News & Ratings for Frontier Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.