Frontier Communications Corp (FTR) Downgraded by Hilliard Lyons

Hilliard Lyons downgraded shares of Frontier Communications Corp (NASDAQ:FTR) from a neutral rating to an underperform rating in a research report released on Wednesday.

Several other research firms have also commented on FTR. Jefferies Group LLC reaffirmed a buy rating and set a $25.00 target price (down from $30.00) on shares of Frontier Communications Corp in a report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a sector perform rating and set a $16.00 target price on shares of Frontier Communications Corp in a report on Tuesday. Cowen and Company reaffirmed a market perform rating on shares of Frontier Communications Corp in a report on Wednesday, August 2nd. UBS AG reaffirmed a neutral rating and set a $15.00 target price on shares of Frontier Communications Corp in a report on Wednesday, August 2nd. Finally, BidaskClub raised Frontier Communications Corp from a strong sell rating to a sell rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $6.11.

Shares of Frontier Communications Corp (FTR) traded down 1.19% on Wednesday, hitting $14.91. The company had a trading volume of 2,340,473 shares. The company’s market capitalization is $1.17 billion. The stock’s 50-day moving average is $15.64 and its 200 day moving average is $28.36. Frontier Communications Corp has a 52 week low of $13.13 and a 52 week high of $73.65.

Frontier Communications Corp (NASDAQ:FTR) last posted its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the consensus estimate of ($1.07) by $0.03. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. Frontier Communications Corp had a negative return on equity of 72.68% and a negative net margin of 28.73%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period last year, the business earned ($0.29) earnings per share. Equities analysts expect that Frontier Communications Corp will post ($3.95) EPS for the current year.

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The company also recently declared 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. The ex-dividend date is Thursday, September 14th. This is a positive change from Frontier Communications Corp’s previous quarterly dividend of $0.04. This represents a $2.40 dividend on an annualized basis and a dividend yield of 16.10%. Frontier Communications Corp’s payout ratio is currently -16.65%.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Frontier Communications Corp by 9.9% in the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after buying an additional 10,474,703 shares in the last quarter. BlackRock Inc. raised its stake in shares of Frontier Communications Corp 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. First Trust Advisors LP raised its stake in shares of Frontier Communications Corp by 101.4% in the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock worth $49,581,000 after buying an additional 21,522,621 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Frontier Communications Corp by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock worth $29,738,000 after buying an additional 1,757,905 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Frontier Communications Corp by 43.8% in the second quarter. Northern Trust Corp now owns 17,209,093 shares of the utilities provider’s stock worth $19,963,000 after buying an additional 5,238,840 shares in the last quarter.

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).

Analyst Recommendations for Frontier Communications Corp (NASDAQ:FTR)

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