Frontier Communications (FTR) Downgraded by BidaskClub
BidaskClub lowered shares of Frontier Communications (NASDAQ:FTR) from a buy rating to a hold rating in a report published on Wednesday.
Several other equities research analysts have also commented on the stock. Barclays assumed coverage on shares of Frontier Communications in a research note on Friday, December 15th. They set an underweight rating and a $7.00 price target on the stock. 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 research note on Monday, November 20th. 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 research note on Friday, November 10th. Gabelli lowered shares of Frontier Communications from a buy rating to a hold rating in a research note on Thursday, November 9th. Finally, 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 research note on Thursday, November 2nd. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Frontier Communications has an average rating of Hold and a consensus target price of $9.30.
Shares of Frontier Communications (FTR) traded down $0.13 during trading hours on Wednesday, reaching $6.98. 3,252,167 shares of the company traded hands, compared to its average volume of 5,265,641. Frontier Communications has a 12-month low of $6.08 and a 12-month high of $57.30. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $557.84, a price-to-earnings ratio of -0.51 and a beta of 0.49.
Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping 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 firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned ($0.64) EPS. Frontier Communications’s revenue for the quarter was down 10.8% compared to the same quarter last year. research analysts anticipate that Frontier Communications will post -4.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 34.38%. Frontier Communications’s dividend payout ratio is presently -17.38%.
Several large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Frontier Communications in the third quarter valued at about $176,000. Engineers Gate Manager LP purchased a new stake in shares of Frontier Communications in the third quarter valued at about $138,000. Pinnacle Associates Ltd. purchased a new stake in shares of Frontier Communications in the third quarter valued at about $535,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Frontier Communications in the third quarter valued at about $174,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Frontier Communications by 109.9% in the third quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 357,493 shares in the last quarter. 62.89% of the stock is currently owned by institutional investors and hedge funds.
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Frontier Communications 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).
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