BidaskClub Upgrades Frontier Communications Corporation (NASDAQ:FTR) to “Hold”

BidaskClub upgraded shares of Frontier Communications Corporation (NASDAQ:FTR) from a sell rating to a hold rating in a research report sent to investors on Thursday, September 7th.

Other analysts also recently issued reports about the company. Morgan Stanley lowered their price objective on Frontier Communications Corporation from $2.30 to $1.50 and set an equal weight rating for the company in a research note on Wednesday, June 14th. Zacks Investment Research raised Frontier Communications Corporation from a hold rating to a buy rating and set a $1.25 price objective for the company in a research note on Wednesday, July 5th. ValuEngine raised Frontier Communications Corporation from a sell rating to a hold rating in a research note on Tuesday, July 11th. Cowen and Company reaffirmed a market perform rating on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Finally, UBS AG reissued a neutral rating and issued a $15.00 target price on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $7.14.

Shares of Frontier Communications Corporation (NASDAQ FTR) traded up 1.55% during midday trading on Thursday, reaching $13.12. The company had a trading volume of 4,296,472 shares. Frontier Communications Corporation has a 12-month low of $11.65 and a 12-month high of $66.00. The stock’s 50 day moving average is $14.09 and its 200-day moving average is $22.01. The stock’s market capitalization is $1.03 billion.

Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.03). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) EPS. On average, equities research analysts predict that Frontier Communications Corporation will post ($4.13) earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.60 per share. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 18.29%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -16.65%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its holdings in shares of Frontier Communications Corporation by 0.7% in the second quarter. Lord Abbett & CO. LLC now owns 2,755,300 shares of the utilities provider’s stock worth $3,196,000 after buying an additional 20,500 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Frontier Communications Corporation by 30.0% in the second quarter. Ameritas Investment Partners Inc. now owns 449,395 shares of the utilities provider’s stock worth $521,000 after buying an additional 103,589 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Frontier Communications Corporation by 53.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 381,695 shares of the utilities provider’s stock worth $443,000 after buying an additional 132,156 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Frontier Communications Corporation in the second quarter worth about $4,048,000. Finally, State Street Corp increased its holdings in shares of Frontier Communications Corporation by 14.9% in the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after buying an additional 6,445,036 shares during the period.

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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