Crossmark Global Holdings Inc. purchased a new position in Frontier Communications Corporation (NASDAQ:FTR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,356 shares of the utilities provider’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Frontier Communications by 9.9% during the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock valued at $135,488,000 after acquiring an additional 10,474,703 shares in the last quarter. State Street Corp raised its position in Frontier Communications by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock valued at $57,507,000 after acquiring an additional 6,445,036 shares in the last quarter. First Trust Advisors LP raised its position in Frontier Communications by 101.4% during the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after acquiring an additional 21,522,621 shares in the last quarter. Bank of New York Mellon Corp raised its position in Frontier Communications by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after acquiring an additional 1,757,905 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in Frontier Communications by 340.9% during the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock valued at $22,941,000 after acquiring an additional 15,290,477 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on FTR. Hilliard Lyons lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 9th. Morgan Stanley dropped their price target on shares of Frontier Communications to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 23rd. BidaskClub lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a research report on Saturday, September 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 price target (down previously from $16.00) on shares of Frontier Communications in a research report on Monday, November 20th. Finally, Gabelli lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.46.

Shares of Frontier Communications Corporation (FTR) opened at $9.10 on Wednesday. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70. Frontier Communications Corporation has a 52 week low of $6.08 and a 52 week high of $57.30.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.01. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. Frontier Communications’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.64) earnings per share. sell-side analysts expect that Frontier Communications Corporation will post -4.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 26.37%. Frontier Communications’s payout ratio is -17.38%.

ILLEGAL ACTIVITY WARNING: “Crossmark Global Holdings Inc. Takes $146,000 Position in Frontier Communications Corporation (FTR)” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://theolympiareport.com/2017/12/06/crossmark-global-holdings-inc-takes-146000-position-in-frontier-communications-corporation-ftr.html.

Frontier Communications 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).

Institutional Ownership by Quarter for Frontier Communications (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.