Aperio Group LLC decreased its stake in Frontier Communications Corporation (NASDAQ:FTR) by 90.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,245 shares of the utilities provider’s stock after selling 660,088 shares during the period. Aperio Group LLC owned 0.09% of Frontier Communications Corporation worth $864,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Shelton Capital Management bought a new stake in shares of Frontier Communications Corporation during the 2nd quarter valued at about $111,000. GSA Capital Partners LLP bought a new stake in shares of Frontier Communications Corporation during the 2nd quarter valued at about $113,000. World Asset Management Inc boosted its position in shares of Frontier Communications Corporation by 14.5% during the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 13,158 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Frontier Communications Corporation by 85.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 49,329 shares in the last quarter. Finally, Washington Trust Bank boosted its position in shares of Frontier Communications Corporation by 13.8% during the 2nd quarter. Washington Trust Bank now owns 117,578 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 14,232 shares in the last quarter.
Shares of Frontier Communications Corporation (FTR) opened at $7.23 on Tuesday. Frontier Communications Corporation has a 52 week low of $6.25 and a 52 week high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.
Frontier Communications Corporation (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping the consensus estimate of ($0.95) by $0.01. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.64) earnings per share. analysts anticipate that Frontier Communications Corporation will post -4.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 33.20%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -17.45%.
Several brokerages recently commented on FTR. Cowen and Company restated a “market perform” rating on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. BidaskClub upgraded Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Deutsche Bank AG cut their price target on Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Zacks Investment Research upgraded Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Bank of America Corporation lowered Frontier Communications Corporation from a “neutral” rating to an “underperform” rating and set a $4.00 price target on the stock. in a report on Friday, November 10th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. Frontier Communications Corporation presently has an average rating of “Hold” and a consensus target price of $9.46.
About Frontier Communications Corporation
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).
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