Commonwealth Bank of Australia Has $1.63 Million Position in Frontier Communications Corp (FTR)

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Commonwealth Bank of Australia increased its position in shares of Frontier Communications Corp (NASDAQ:FTR) by 52.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 684,800 shares of the utilities provider’s stock after buying an additional 235,300 shares during the period. Commonwealth Bank of Australia’s holdings in Frontier Communications were worth $1,626,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Frontier Communications by 32.8% during the 3rd quarter. BlackRock Inc. now owns 16,286,094 shares of the utilities provider’s stock worth $105,696,000 after acquiring an additional 4,021,298 shares in the last quarter. Vanguard Group Inc grew its holdings in Frontier Communications by 21.2% during the 3rd quarter. Vanguard Group Inc now owns 11,355,181 shares of the utilities provider’s stock worth $73,695,000 after acquiring an additional 1,985,632 shares in the last quarter. Vanguard Group Inc. grew its holdings in Frontier Communications by 21.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,355,181 shares of the utilities provider’s stock worth $73,695,000 after acquiring an additional 1,985,632 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Frontier Communications by 924.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,637,164 shares of the utilities provider’s stock worth $10,626,000 after acquiring an additional 1,477,370 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Frontier Communications by 1,042.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 848,243 shares of the utilities provider’s stock worth $5,505,000 after acquiring an additional 774,008 shares in the last quarter. 78.30% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ FTR opened at $2.59 on Friday. Frontier Communications Corp has a one year low of $1.81 and a one year high of $11.64. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 10.22. The stock has a market capitalization of $283.26 million, a PE ratio of -1.93 and a beta of 1.12.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, February 26th. The utilities provider reported ($2.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($2.08). Frontier Communications had a negative net margin of 7.47% and a negative return on equity of 0.62%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the firm posted ($0.59) earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts forecast that Frontier Communications Corp will post -0.68 EPS for the current year.

Several research analysts have weighed in on FTR shares. BidaskClub lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, December 8th. Zacks Investment Research lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Raymond James lowered shares of Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 price target for the company. in a report on Tuesday, February 19th. Morgan Stanley decreased their price target on shares of Frontier Communications from $10.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 19th. Finally, Cowen reaffirmed a “hold” rating and issued a $3.00 price target on shares of Frontier Communications in a report on Wednesday, February 27th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $3.47.

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Frontier Communications 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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Institutional Ownership by Quarter for Frontier Communications (NASDAQ:FTR)

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