Frontier Communications (NASDAQ:FTR) Shares Down 1.3%

Frontier Communications Corp (NASDAQ:FTR) traded down 1.3% on Thursday . The stock traded as low as $1.47 and last traded at $1.47. 85,516 shares traded hands during trading, a decline of 97% from the average session volume of 2,710,217 shares. The stock had previously closed at $1.49.

Several equities research analysts have recently weighed in on the company. BidaskClub lowered Frontier Communications from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Zacks Investment Research lowered Frontier Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reissued a “hold” rating and set a $3.00 price objective on shares of Frontier Communications in a research note on Wednesday, February 27th. Cowen reissued a “hold” rating and set a $3.00 price objective on shares of Frontier Communications in a research note on Wednesday, February 27th. Finally, Raymond James lowered Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 price objective for the company. in a research note on Tuesday, February 19th. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Frontier Communications currently has a consensus rating of “Sell” and a consensus price target of $3.08.

The stock has a market capitalization of $152.67 million, a P/E ratio of -1.15 and a beta of 1.52. 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 (NASDAQ:FTR) last issued its earnings results 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. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Frontier Communications had a negative return on equity of 2.14% and a negative net margin of 8.81%. Frontier Communications’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.58) earnings per share. Equities research analysts predict that Frontier Communications Corp will post -0.93 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings 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 in the last quarter. Renaissance Technologies LLC raised its holdings 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 in the last quarter. Restructuring Capital Associates LP raised its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 in the last quarter. Finally, Benefit Street Partners LLC raised 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 acquiring an additional 859,680 shares in the last quarter. 77.99% of the stock is owned by institutional investors and hedge funds.

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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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