Analysts Set Frontier Communications Corp (FTR) Price Target at $3.45

Frontier Communications Corp (NASDAQ:FTR) has been assigned a consensus rating of “Hold” from the sixteen analysts that are covering the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $3.20.

FTR has been the topic of a number of analyst reports. Vetr downgraded shares of Frontier Communications Corp from a “buy” rating to a “sell” rating and set a $3.46 price objective on the stock. in a report on Tuesday, January 3rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $3.50 price objective on shares of Frontier Communications Corp in a report on Tuesday, February 28th. Jefferies Group LLC cut their price target on shares of Frontier Communications Corp from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th. Morgan Stanley downgraded shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 28th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $2.96 to $2.51 in a report on Tuesday, February 28th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Frontier Communications Corp by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 67,244 shares of the utilities provider’s stock valued at $227,000 after buying an additional 246 shares during the period. Willingdon Wealth Management boosted its position in Frontier Communications Corp by 2,658.4% in the third quarter. Willingdon Wealth Management now owns 522,091 shares of the utilities provider’s stock valued at $2,172,000 after buying an additional 503,164 shares during the period. Comerica Bank boosted its position in Frontier Communications Corp by 1.7% in the fourth quarter. Comerica Bank now owns 301,680 shares of the utilities provider’s stock valued at $1,068,000 after buying an additional 4,949 shares during the period. TD Asset Management Inc. boosted its position in Frontier Communications Corp by 800.6% in the third quarter. TD Asset Management Inc. now owns 9,116,449 shares of the utilities provider’s stock valued at $37,924,000 after buying an additional 8,104,223 shares during the period. Finally, BlackRock Inc. boosted its position in Frontier Communications Corp by 3.1% in the third quarter. BlackRock Inc. now owns 2,327,625 shares of the utilities provider’s stock valued at $9,684,000 after buying an additional 68,907 shares during the period. Institutional investors own 67.26% of the company’s stock.

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Frontier Communications Corp (NASDAQ:FTR) traded up 1.04% on Monday, hitting $1.94. 22,729,671 shares of the company were exchanged. The stock has a 50 day moving average price of $2.25 and a 200 day moving average price of $3.23. The firm’s market cap is $2.27 billion. Frontier Communications Corp has a one year low of $1.84 and a one year high of $5.70.

Frontier Communications Corp (NASDAQ:FTR) last announced its quarterly earnings results on Monday, February 27th. The utilities provider reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The business earned $2.41 billion during the quarter, compared to analyst estimates of $2.50 billion. Frontier Communications Corp had a negative net margin of 5.01% and a positive return on equity of 2.05%. Frontier Communications Corp’s quarterly revenue was up 70.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts forecast that Frontier Communications Corp will post ($0.18) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 21.65%. The ex-dividend date was Monday, March 13th. Frontier Communications Corp’s dividend payout ratio is presently -77.78%.

About Frontier Communications Corp

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

5 Day Chart for NASDAQ:FTR

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