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

Shares of Frontier Communications (NASDAQ:FTR) have earned a consensus recommendation of “Hold” from the nineteen analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.28.

FTR has been the subject of several recent research reports. Vetr lowered Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $9.22 price target for the company. in a research report on Monday, January 29th. Jefferies Group lowered Frontier Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Zacks Investment Research lowered Frontier Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Barclays initiated coverage on Frontier Communications in a research report on Friday, December 15th. They issued an “underweight” rating and a $7.00 price target for the company. Finally, BidaskClub lowered Frontier Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th.

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NASDAQ FTR traded down $0.01 on Friday, reaching $7.76. 641,832 shares of the stock traded hands, compared to its average volume of 3,116,449. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 7.46. The firm has a market cap of $617.15, a PE ratio of -2.05 and a beta of 0.66. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $31.95.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, February 27th. The utilities provider reported ($0.59) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.12) by $0.53. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. Frontier Communications had a negative return on equity of 3.95% and a negative net margin of 19.76%. Frontier Communications’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. research analysts expect that Frontier Communications will post -2.33 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. purchased a new stake in Frontier Communications during the 3rd quarter valued at about $146,000. Quantbot Technologies LP acquired a new position in shares of Frontier Communications in the 3rd quarter valued at about $124,000. SG Americas Securities LLC lifted its holdings in shares of Frontier Communications by 109.9% in the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after buying an additional 357,493 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Frontier Communications in the 3rd quarter valued at about $174,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Frontier Communications in the 3rd quarter valued at about $535,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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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.

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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