Wells Fargo & Co lowered shares of Frontier Communications (NASDAQ:FTR) from a market perform rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have $1.75 price target on the utilities provider’s stock, down from their previous price target of $5.00.

Several other research analysts also recently issued reports on FTR. Zacks Investment Research downgraded shares of Frontier Communications from a buy rating to a hold rating in a research report on Monday, December 17th. Morgan Stanley reduced their price target on shares of Frontier Communications from $10.00 to $5.00 and set an equal weight rating on the stock in a research report on Monday, November 19th. BidaskClub downgraded shares of Frontier Communications from a buy rating to a hold rating in a research report on Saturday, October 13th. Citigroup reduced their price target on shares of Frontier Communications from $4.50 to $2.75 and set a sell rating on the stock in a research report on Wednesday, November 21st. Finally, UBS Group downgraded shares of Frontier Communications from a neutral rating to a sell rating and cut their target price for the company from $6.00 to $3.00 in a research report on Wednesday, November 7th. Seven investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $4.72.

Shares of NASDAQ:FTR traded up $0.10 on Tuesday, hitting $2.62. The stock had a trading volume of 80,865 shares, compared to its average volume of 3,395,765. Frontier Communications has a twelve month low of $2.01 and a twelve month high of $11.64. The company has a debt-to-equity ratio of 8.44, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $275.48 million, a PE ratio of -0.70 and a beta of 1.11.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, November 6th. The utilities provider reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.13. Frontier Communications had a negative net margin of 16.69% and a negative return on equity of 2.35%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the company earned ($0.94) EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts forecast that Frontier Communications will post -1.47 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in FTR. Alps Advisors Inc. bought a new stake in shares of Frontier Communications in the 2nd quarter valued at about $350,000. Bank of New York Mellon Corp increased its stake in shares of Frontier Communications by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,204,209 shares of the utilities provider’s stock valued at $6,455,000 after acquiring an additional 21,917 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Frontier Communications by 2,495.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 32,755 shares of the utilities provider’s stock valued at $173,000 after acquiring an additional 31,493 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Frontier Communications by 5.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,171,723 shares of the utilities provider’s stock valued at $6,281,000 after acquiring an additional 60,741 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Frontier Communications in the 2nd quarter valued at about $1,088,000. Institutional investors own 71.60% of the company’s stock.

Frontier Communications Company Profile

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 broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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