Frontier Communications (NASDAQ:FTR) Trading Up 10.1%

Shares of Frontier Communications Corp (NASDAQ:FTR) were up 10.1% during trading on Friday . The company traded as high as $0.81 and last traded at $0.78, approximately 2,455,287 shares were traded during mid-day trading. A decline of 33% from the average daily volume of 3,673,619 shares. The stock had previously closed at $0.71.

A number of research analysts recently commented on FTR shares. Citigroup boosted their price target on Frontier Communications from $1.00 to $1.50 and gave the company a “positive” rating in a research note on Thursday, June 20th. They noted that the move was a valuation call. Guggenheim set a $1.00 price target on Frontier Communications and gave the company a “sell” rating in a research note on Wednesday, August 7th. ValuEngine raised Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Frontier Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada set a $1.00 price target on Frontier Communications and gave the company a “hold” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Frontier Communications presently has a consensus rating of “Hold” and an average target price of $2.25.

The company has a debt-to-equity ratio of 10.77, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a 50-day simple moving average of $1.36 and a 200-day simple moving average of $1.99. The stock has a market cap of $74.82 million, a P/E ratio of 1.06 and a beta of 1.46.

Frontier Communications (NASDAQ:FTR) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $1.26. Frontier Communications had a positive return on equity of 21.42% and a negative net margin of 71.86%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted ($0.92) earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Frontier Communications Corp will post -1.11 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Frontier Communications by 4.2% during the second quarter. BlackRock Inc. now owns 16,705,266 shares of the utilities provider’s stock worth $29,234,000 after purchasing an additional 673,480 shares during the last quarter. Morgan Stanley grew its holdings in shares of Frontier Communications by 147.0% during the second quarter. Morgan Stanley now owns 4,273,345 shares of the utilities provider’s stock worth $7,479,000 after purchasing an additional 2,543,420 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Frontier Communications by 288.4% during the second quarter. Invesco Ltd. now owns 3,623,984 shares of the utilities provider’s stock worth $6,342,000 after purchasing an additional 2,690,886 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Frontier Communications by 33.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,933,234 shares of the utilities provider’s stock worth $5,134,000 after purchasing an additional 741,960 shares during the last quarter. Finally, Benefit Street Partners LLC grew its holdings in shares of Frontier Communications by 72.8% during the first quarter. Benefit Street Partners LLC now owns 2,039,910 shares of the utilities provider’s stock worth $4,060,000 after purchasing an additional 859,680 shares during the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.

About Frontier Communications (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.

Featured Story: Average Daily Trade Volume – What You Need to Know

Receive News & Ratings for Frontier Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications and related companies with MarketBeat.com's FREE daily email newsletter.