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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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