Frontier Communications (NASDAQ:FTR) Rating Increased to Hold at ValuEngine

Frontier Communications (NASDAQ:FTR) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. Citigroup upped their price objective on Frontier Communications from $1.00 to $1.50 and gave the stock a “positive” rating in a research report on Thursday, June 20th. They noted that the move was a valuation call. BidaskClub upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Zacks Investment Research lowered Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $2.78.

Frontier Communications stock traded down $0.02 during mid-day trading on Thursday, hitting $1.21. The company had a trading volume of 2,787,629 shares, compared to its average volume of 1,648,681. The company has a debt-to-equity ratio of 10.77, a current ratio of 0.55 and a quick ratio of 0.55. Frontier Communications has a 12-month low of $1.17 and a 12-month high of $7.25. The firm’s fifty day moving average is $1.50. The stock has a market cap of $138.98 million, a P/E ratio of -0.90 and a beta of 1.46.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the firm posted ($0.58) EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Frontier Communications will post -0.93 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Frontier Communications by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 1,056,341 shares of the utilities provider’s stock valued at $2,514,000 after buying an additional 39,342 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Frontier Communications during the 1st quarter valued at approximately $35,000. Royce & Associates LP lifted its position in shares of Frontier Communications by 40.6% during the 1st quarter. Royce & Associates LP now owns 26,468 shares of the utilities provider’s stock valued at $53,000 after buying an additional 7,640 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Frontier Communications by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 34,486 shares of the utilities provider’s stock valued at $82,000 after buying an additional 26,933 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Frontier Communications during the 4th quarter valued at approximately $532,000. Hedge funds and other institutional investors own 77.95% of the company’s stock.

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 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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Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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