Frontier Communications Corporation (FTR) Upgraded by BidaskClub to “Sell”

Frontier Communications Corporation (NASDAQ:FTR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also recently issued reports on FTR. J P Morgan Chase & Co cut Frontier Communications Corporation from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $2.96 to $2.51 in a report on Tuesday, February 28th. Morgan Stanley cut Frontier Communications Corporation from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 28th. Jefferies Group LLC lowered their price target on Frontier Communications Corporation from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $3.50 price target on shares of Frontier Communications Corporation in a report on Tuesday, February 28th. Finally, TheStreet cut Frontier Communications Corporation from a “c-” rating to a “d+” rating in a report on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Frontier Communications Corporation has a consensus rating of “Hold” and a consensus target price of $3.27.

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

Frontier Communications Corporation (NASDAQ FTR) traded down 6.439% on Tuesday, reaching $1.235. 23,592,623 shares of the company’s stock traded hands. Frontier Communications Corporation has a 52 week low of $1.19 and a 52 week high of $5.22. The firm has a 50-day moving average price of $1.37 and a 200-day moving average price of $2.53. The stock’s market capitalization is $1.45 billion.

Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Frontier Communications Corporation had a negative net margin of 2.65% and a positive return on equity of 0.19%. On average, analysts predict that Frontier Communications Corporation will post ($0.25) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 12.12%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corporation’s dividend payout ratio (DPR) is -38.10%.

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Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management AG boosted its position in shares of Frontier Communications Corporation by 2.4% in the fourth quarter. Allianz Asset Management AG now owns 1,532,576 shares of the utilities provider’s stock worth $5,181,000 after buying an additional 36,260 shares during the period. Credit Agricole S A boosted its position in shares of Frontier Communications Corporation by 233.2% in the fourth quarter. Credit Agricole S A now owns 1,389,350 shares of the utilities provider’s stock worth $4,696,000 after buying an additional 972,367 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Frontier Communications Corporation by 2,698.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,346,880 shares of the utilities provider’s stock worth $11,310,000 after buying an additional 3,227,301 shares during the period. Aviva PLC boosted its position in shares of Frontier Communications Corporation by 5.7% in the fourth quarter. Aviva PLC now owns 765,163 shares of the utilities provider’s stock worth $2,579,000 after buying an additional 41,034 shares during the period. Finally, Elkfork Partners LLC purchased a new position in shares of Frontier Communications Corporation during the fourth quarter worth approximately $321,000. Institutional investors own 63.74% of the company’s stock.

Frontier Communications Corporation Company Profile

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FTR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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