Frontier Communications (FTR) Shares Down 7.8%

Frontier Communications Corp (NASDAQ:FTR)’s share price was down 7.8% during trading on Thursday . The stock traded as low as $1.75 and last traded at $1.78. Approximately 4,439,073 shares traded hands during trading, an increase of 8% from the average daily volume of 4,091,532 shares. The stock had previously closed at $1.93.

Several equities analysts have recently commented on FTR shares. Zacks Investment Research lowered Frontier Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Raymond James lowered Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 target price on the stock. in a research note on Tuesday, February 19th. Cowen reiterated a “hold” rating and issued a $3.00 target price on shares of Frontier Communications in a research note on Wednesday, February 27th. BidaskClub lowered Frontier Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $3.00 target price on shares of Frontier Communications in a research note on Wednesday, February 27th. Seven research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus target price of $3.47.

The company has a debt-to-equity ratio of 10.77, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $203.21 million, a PE ratio of -1.33 and a beta of 1.29.

Frontier Communications (NASDAQ:FTR) last posted its earnings results on Tuesday, April 30th. The utilities provider reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.27. Frontier Communications had a negative return on equity of 2.14% and a negative net margin of 8.81%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned ($0.58) earnings per share. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, analysts expect that Frontier Communications Corp will post -0.88 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of FTR. BlackRock Inc. grew its stake in shares of Frontier Communications by 0.5% during the fourth quarter. BlackRock Inc. now owns 16,360,108 shares of the utilities provider’s stock worth $38,937,000 after acquiring an additional 74,014 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Frontier Communications by 21.2% during the third 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 during the last quarter. Renaissance Technologies LLC grew its stake in shares of Frontier Communications by 104.3% during the first quarter. Renaissance Technologies LLC now owns 4,830,717 shares of the utilities provider’s stock worth $9,613,000 after acquiring an additional 2,466,444 shares during the last quarter. Restructuring Capital Associates LP grew its stake in shares of Frontier Communications by 80.0% during the fourth quarter. Restructuring Capital Associates LP now owns 2,700,000 shares of the utilities provider’s stock worth $6,426,000 after acquiring an additional 1,200,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Communications by 18.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,191,274 shares of the utilities provider’s stock worth $4,361,000 after acquiring an additional 336,469 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

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Frontier Communications Company Profile (NASDAQ:FTR)

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 Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises.

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