Frontier Communications Corp (NASDAQ:FTR)‘s stock had its “buy” rating reiterated by equities researchers at UBS Group AG in a research report issued to clients and investors on Thursday, May 4th.
A number of other equities research analysts have also issued reports on FTR. Royal Bank of Canada reaffirmed a “hold” rating and set a $3.50 target price on shares of Frontier Communications Corp in a research report on Tuesday, February 28th. Jefferies Group LLC lowered their price target on Frontier Communications Corp from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Morgan Stanley downgraded Frontier Communications Corp from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 28th. JPMorgan Chase & Co. downgraded Frontier Communications Corp from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $2.96 to $2.51 in a research note on Tuesday, February 28th. Finally, TheStreet downgraded Frontier Communications Corp from a “c-” rating to a “d+” rating in a research note on Monday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Frontier Communications Corp has an average rating of “Hold” and an average price target of $3.46.
Frontier Communications Corp (NASDAQ:FTR) traded up 12.31% during midday trading on Thursday, reaching $1.46. 50,840,006 shares of the company were exchanged. The company has a 50 day moving average of $1.76 and a 200-day moving average of $2.85. The company’s market capitalization is $1.72 billion. Frontier Communications Corp has a 52-week low of $1.19 and a 52-week high of $5.30.
Frontier Communications Corp (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corp had a positive return on equity of 2.05% and a negative net margin of 5.01%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.34 billion. On average, equities research analysts anticipate that Frontier Communications Corp will post ($0.25) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.16 annualized dividend and a dividend yield of 10.96%. Frontier Communications Corp’s dividend payout ratio is currently -77.78%.
Several large investors have recently added to or reduced their stakes in the stock. City Financial Investment Co Ltd bought a new stake in Frontier Communications Corp during the first quarter valued at $3,638,000. Green Square Capital LLC raised its stake in Frontier Communications Corp by 64.1% in the first quarter. Green Square Capital LLC now owns 1,561,726 shares of the utilities provider’s stock valued at $3,342,000 after buying an additional 609,775 shares in the last quarter. Fore Research & Management LP bought a new stake in Frontier Communications Corp during the first quarter valued at $342,000. Tudor Investment Corp ET AL raised its stake in Frontier Communications Corp by 259.9% in the first quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock valued at $306,000 after buying an additional 103,170 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Frontier Communications Corp by 84.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 1,093,139 shares of the utilities provider’s stock valued at $2,339,000 after buying an additional 500,293 shares in the last quarter. Institutional investors own 67.26% of the company’s stock.
About Frontier Communications Corp
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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