Frontier Communications (NASDAQ:FTR) Downgraded by BidaskClub to Strong Sell

BidaskClub downgraded shares of Frontier Communications (NASDAQ:FTR) from a sell rating to a strong sell rating in a report issued on Thursday, January 24th.

FTR has been the topic of several other reports. Zacks Investment Research downgraded shares of Frontier Communications from a buy rating to a hold rating in a research note on Wednesday, January 23rd. Morgan Stanley decreased their target price on shares of Frontier Communications from $10.00 to $5.00 and set an equal weight rating on the stock in a research note on Monday, November 19th. Royal Bank of Canada set a $5.00 target price on shares of Frontier Communications and gave the stock a hold rating in a research note on Monday, November 19th. Citigroup decreased their target price on shares of Frontier Communications from $4.50 to $2.75 and set a sell rating on the stock in a research note on Wednesday, November 21st. Finally, ValuEngine raised shares of Frontier Communications from a strong sell rating to a sell rating in a research note on Tuesday, October 2nd. Seven equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $4.64.

Shares of Frontier Communications stock opened at $1.96 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 8.44. Frontier Communications has a 52-week low of $1.81 and a 52-week high of $11.64. The company has a market capitalization of $206.88 million, a PE ratio of -0.52 and a beta of 0.95.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Frontier Communications by 0.5% during the 4th quarter. BlackRock Inc. now owns 16,360,108 shares of the utilities provider’s stock valued at $38,937,000 after purchasing an additional 74,014 shares during the period. New York State Common Retirement Fund increased its position in Frontier Communications by 13.3% during the 4th quarter. New York State Common Retirement Fund now owns 93,693 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 11,000 shares during the period. California Public Employees Retirement System increased its position in Frontier Communications by 14.7% during the 4th quarter. California Public Employees Retirement System now owns 723,464 shares of the utilities provider’s stock valued at $1,722,000 after purchasing an additional 92,545 shares during the period. LPL Financial LLC increased its position in Frontier Communications by 97.8% during the 4th quarter. LPL Financial LLC now owns 31,293 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 15,472 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new position in Frontier Communications during the 4th quarter valued at $96,000. 71.66% of the stock is currently owned by institutional investors and hedge funds.

About Frontier Communications

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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Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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