Frontier Communications Corp (FTR) Receives Consensus Rating of “Hold” from Analysts

Frontier Communications Corp (NASDAQ:FTR) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.36.

A number of research analysts recently weighed in on FTR shares. Cowen set a $6.00 target price on Frontier Communications and gave the company a “hold” rating in a report on Tuesday, July 31st. BidaskClub cut Frontier Communications from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Citigroup reduced their target price on Frontier Communications from $6.25 to $4.50 and set a “sell” rating on the stock in a report on Thursday, June 28th. ValuEngine upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research cut Frontier Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd.

A number of large investors have recently added to or reduced their stakes in FTR. BlackRock Inc. raised its position in Frontier Communications by 11.5% in the second quarter. BlackRock Inc. now owns 12,264,796 shares of the utilities provider’s stock valued at $65,739,000 after purchasing an additional 1,263,245 shares during the period. BlueMountain Capital Management LLC increased its position in shares of Frontier Communications by 1,781.9% during the second quarter. BlueMountain Capital Management LLC now owns 1,323,436 shares of the utilities provider’s stock worth $7,094,000 after acquiring an additional 1,253,112 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of Frontier Communications during the second quarter worth about $5,330,000. Millennium Management LLC increased its position in shares of Frontier Communications by 527.5% during the second quarter. Millennium Management LLC now owns 823,836 shares of the utilities provider’s stock worth $4,416,000 after acquiring an additional 692,537 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Frontier Communications by 8,427.1% during the second quarter. KBC Group NV now owns 609,429 shares of the utilities provider’s stock worth $3,266,000 after acquiring an additional 602,282 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

Frontier Communications stock traded down $0.12 during midday trading on Thursday, reaching $5.54. The stock had a trading volume of 7,020 shares, compared to its average volume of 3,334,216. Frontier Communications has a twelve month low of $4.52 and a twelve month high of $12.19. The stock has a market capitalization of $686.71 million, a P/E ratio of -1.46 and a beta of 0.57. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 6.75.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm earned ($1.10) earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Frontier Communications will post -1.64 EPS for the current year.

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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