Nisa Investment Advisors LLC decreased its stake in Frontier Communications Corporation (NASDAQ:FTR) by 77.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,740 shares of the utilities provider’s stock after selling 325,300 shares during the period. Nisa Investment Advisors LLC’s holdings in Frontier Communications Corporation were worth $198,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Frontier Communications Corporation during the fourth quarter valued at about $17,074,000. Russell Investments Group Ltd. purchased a new stake in Frontier Communications Corporation during the fourth quarter valued at about $13,503,000. Guggenheim Capital LLC raised its stake in Frontier Communications Corporation by 41.3% in the fourth quarter. Guggenheim Capital LLC now owns 12,999,789 shares of the utilities provider’s stock valued at $43,939,000 after buying an additional 3,800,031 shares during the last quarter. UBS Oconnor LLC raised its stake in Frontier Communications Corporation by 2,550.5% in the third quarter. UBS Oconnor LLC now owns 3,387,364 shares of the utilities provider’s stock valued at $14,091,000 after buying an additional 3,259,564 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Frontier Communications Corporation by 2,698.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,346,880 shares of the utilities provider’s stock valued at $11,310,000 after buying an additional 3,227,301 shares during the last quarter. 63.74% of the stock is currently owned by institutional investors and hedge funds.
Frontier Communications Corporation (NASDAQ FTR) traded down 5.04% during trading on Monday, hitting $1.32. 20,241,236 shares of the company were exchanged. Frontier Communications Corporation has a 12 month low of $1.18 and a 12 month high of $5.22. The company’s market capitalization is $1.56 billion. The company has a 50-day moving average of $1.39 and a 200-day moving average of $2.57.
Frontier Communications Corporation (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.03. Frontier Communications Corporation had a positive return on equity of 0.19% and a negative net margin of 2.65%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion. Analysts forecast that Frontier Communications Corporation will post ($0.25) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 12.12%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corporation’s dividend payout ratio (DPR) is -38.10%.
FTR has been the subject of several research analyst reports. Citigroup Inc. reduced their price target on shares of Frontier Communications Corporation from $2.25 to $1.75 and set a “sell” rating for the company in a research report on Monday, March 20th. TheStreet downgraded shares of Frontier Communications Corporation from a “c-” rating to a “d+” rating in a research report on Monday, February 27th. Zacks Investment Research upgraded shares of Frontier Communications Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Morgan Stanley increased their price objective on shares of Frontier Communications Corporation from $2.30 to $4.20 and gave the company an “equal weight” rating in a report on Thursday, March 30th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $3.50 price objective on shares of Frontier Communications Corporation in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $3.27.
Frontier Communications Corporation Company Profile
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).
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