Northern Capital Management LLC continued to hold its stake in Frontier Communications Corp. (NASDAQ:FTR) during the second quarter, Holdings Channel reports. The firm owned 77,475 shares of the company’s stock at the end of the second quarter. Northern Capital Management LLC’s holdings in Frontier Communications Corp. were worth $383,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Murphy Capital Management Inc. acquired a new position in Frontier Communications Corp. during the second quarter worth $106,000. NEXT Financial Group Inc increased its stake in Frontier Communications Corp. by 23.2% in the second quarter. NEXT Financial Group Inc now owns 22,450 shares of the company’s stock worth $110,000 after buying an additional 4,233 shares in the last quarter. Private Bank & Trust Co. purchased a new stake in Frontier Communications Corp. during the second quarter worth approximately $116,000. Bayesian Capital Management LP purchased a new stake in Frontier Communications Corp. during the first quarter worth approximately $117,000. Finally, Conning Inc. increased its stake in Frontier Communications Corp. by 5.9% in the second quarter. Conning Inc. now owns 26,468 shares of the company’s stock worth $131,000 after buying an additional 1,480 shares in the last quarter. 65.93% of the stock is owned by hedge funds and other institutional investors.
Frontier Communications Corp. (NASDAQ:FTR) traded down 0.48% on Monday, reaching $4.14. The company’s stock had a trading volume of 16,728,933 shares. The firm’s market capitalization is $4.86 billion. The company has a 50 day moving average of $4.51 and a 200 day moving average of $5.01. Frontier Communications Corp. has a 52 week low of $3.81 and a 52 week high of $5.85.
Frontier Communications Corp. (NASDAQ:FTR) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. Frontier Communications Corp. had a positive return on equity of 2.52% and a negative net margin of 4.85%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the firm posted $0.03 earnings per share. Frontier Communications Corp.’s quarterly revenue was up 90.6% on a year-over-year basis. On average, analysts forecast that Frontier Communications Corp. will post ($0.08) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.42 annualized dividend and a yield of 10.14%. Frontier Communications Corp.’s dividend payout ratio (DPR) is currently -85.71%.
A number of equities research analysts recently commented on the company. Jefferies Group reiterated a “buy” rating and issued a $6.00 target price on shares of Frontier Communications Corp. in a research report on Tuesday, August 2nd. Raymond James Financial Inc. decreased their price objective on Frontier Communications Corp. from $6.00 to $5.50 and set an “outperform” rating on the stock in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded Frontier Communications Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Morgan Stanley downgraded Frontier Communications Corp. from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $6.00 to $5.40 in a research report on Monday, July 18th. Finally, Macquarie upgraded Frontier Communications Corp. from an “underperform” rating to a “neutral” rating in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $5.95.
About Frontier Communications Corp.
Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.
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