Analysts Set Frontier Communications Corporation (FTR) Price Target at $2.71

Shares of Frontier Communications Corporation (NASDAQ:FTR) have earned an average rating of “Hold” from the twenty brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.71.

Several analysts recently commented on FTR shares. Macquarie reaffirmed a “hold” rating and issued a $2.65 price objective on shares of Frontier Communications Corporation in a report on Thursday, April 13th. BidaskClub lowered Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. ValuEngine raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, July 5th. Finally, UBS AG reissued a “buy” rating on shares of Frontier Communications Corporation in a report on Thursday, May 4th.

Several large investors have recently bought and sold shares of FTR. BlackRock Inc. increased its stake in Frontier Communications Corporation by 4,683.4% in the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock worth $248,246,000 after buying an additional 113,578,500 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Frontier Communications Corporation by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 23,878,281 shares of the utilities provider’s stock worth $51,099,000 after buying an additional 4,110,957 shares in the last quarter. First Trust Advisors LP increased its stake in Frontier Communications Corporation by 37.4% in the first quarter. First Trust Advisors LP now owns 21,219,375 shares of the utilities provider’s stock worth $45,409,000 after buying an additional 5,774,938 shares in the last quarter. Morgan Stanley increased its stake in Frontier Communications Corporation by 133.9% in the first quarter. Morgan Stanley now owns 10,376,683 shares of the utilities provider’s stock worth $22,207,000 after buying an additional 5,941,074 shares in the last quarter. Finally, Hexavest Inc. increased its stake in Frontier Communications Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 8,355,403 shares of the utilities provider’s stock worth $17,881,000 after buying an additional 351,596 shares in the last quarter.

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Frontier Communications Corporation (FTR) opened at 15.63 on Friday. The stock’s 50 day moving average price is $16.61 and its 200 day moving average price is $30.90. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $78.30. The company’s market cap is $1.23 billion.

Frontier Communications Corporation (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corporation had a positive return on equity of 0.19% and a negative net margin of 2.65%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.34 billion. On average, equities analysts anticipate that Frontier Communications Corporation will post ($3.85) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.60 dividend. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 15.36%. Frontier Communications Corporation’s dividend payout ratio is -38.11%.

About Frontier Communications Corporation

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 Corporation (NASDAQ:FTR)

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