Brokerages Anticipate Frontier Communications Corp (FTR) Will Post Quarterly Sales of $2.13 Billion

Equities research analysts expect that Frontier Communications Corp (NASDAQ:FTR) will announce sales of $2.13 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Frontier Communications’ earnings, with estimates ranging from $2.12 billion to $2.14 billion. Frontier Communications reported sales of $2.25 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The firm is expected to report its next quarterly earnings results on Tuesday, October 30th.

On average, analysts expect that Frontier Communications will report full year sales of $8.59 billion for the current fiscal year, with estimates ranging from $8.57 billion to $8.61 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.24 billion per share, with estimates ranging from $8.13 billion to $8.37 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Frontier Communications.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.83) by $0.03. Frontier Communications had a negative return on equity of 2.48% and a negative net margin of 12.06%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted ($1.10) EPS. The business’s revenue was down 6.2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $6.00 price target on shares of Frontier Communications in a research note on Friday, August 3rd. Cowen set a $6.00 price target on shares of Frontier Communications and gave the stock a “hold” rating in a research note on Tuesday, July 31st. Barclays decreased their price target on shares of Frontier Communications from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, May 31st. Finally, Citigroup decreased their price target on shares of Frontier Communications from $6.25 to $4.50 and set a “sell” rating on the stock in a research note on Thursday, June 28th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Frontier Communications currently has an average rating of “Hold” and an average target price of $7.80.

Shares of NASDAQ FTR opened at $5.79 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 0.47 and a quick ratio of 0.47. Frontier Communications has a twelve month low of $4.52 and a twelve month high of $13.28.

Institutional investors have recently bought and sold shares of the stock. Stevens Capital Management LP purchased a new stake in Frontier Communications in the 2nd quarter worth about $106,000. Nomura Asset Management Co. Ltd. purchased a new stake in Frontier Communications in the 1st quarter worth about $114,000. Xact Kapitalforvaltning AB purchased a new stake in Frontier Communications in the 1st quarter worth about $119,000. Glen Harbor Capital Management LLC raised its position in Frontier Communications by 78.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 10,132 shares during the period. Finally, IFP Advisors Inc raised its position in Frontier Communications by 843.6% in the 1st quarter. IFP Advisors Inc now owns 17,022 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 15,218 shares during the period. 62.77% of the stock is currently owned by institutional investors.

About Frontier Communications

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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