Several other equities analysts also recently weighed in on FTR. Jefferies Group lowered their price target on shares of Frontier Communications Corp. from $6.00 to $5.00 and set a buy rating on the stock in a report on Tuesday. Zacks Investment Research downgraded shares of Frontier Communications Corp. from a buy rating to a hold rating in a report on Monday, July 11th. Raymond James Financial Inc. lowered their price target on shares of Frontier Communications Corp. from $6.00 to $5.50 and set an outperform rating on the stock in a report on Tuesday, August 2nd. Macquarie raised shares of Frontier Communications Corp. from an underperform rating to a neutral rating in a report on Tuesday, September 6th. Finally, Morgan Stanley downgraded shares of Frontier Communications Corp. from an overweight rating to an equal weight rating and lowered their price target for the company from $6.00 to $5.40 in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $5.79.
Frontier Communications Corp. (NASDAQ:FTR) traded down 0.24% during trading on Monday, hitting $4.14. 11,798,345 shares of the company traded hands. The company’s 50 day moving average is $4.41 and its 200-day moving average is $4.96. Frontier Communications Corp. has a 52 week low of $3.81 and a 52 week high of $5.85. The stock’s market capitalization is $4.86 billion.
Frontier Communications Corp. (NASDAQ:FTR) last announced its earnings results on Monday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.75 billion. Frontier Communications Corp. had a negative net margin of 4.85% and a positive return on equity of 2.52%. The business’s quarterly revenue was up 90.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts predict 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 given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 10.12%. The ex-dividend date was Tuesday, September 13th. Frontier Communications Corp.’s dividend payout ratio (DPR) is -85.71%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Murphy Capital Management Inc. purchased a new position in Frontier Communications Corp. during the second quarter worth $106,000. NEXT Financial Group Inc boosted its position 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 during the period. Bank of Nova Scotia boosted its position in Frontier Communications Corp. by 6.2% in the second quarter. Bank of Nova Scotia now owns 23,138 shares of the company’s stock worth $114,000 after buying an additional 1,360 shares during the period. Private Bank & Trust Co. purchased a new position in Frontier Communications Corp. during the second quarter worth $116,000. Finally, Bayesian Capital Management LP purchased a new position in Frontier Communications Corp. during the first quarter worth $117,000. Institutional investors and hedge funds own 65.93% of the company’s stock.
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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