Bank of Montreal Can Has $150,000 Position in Frontier Communications Corporation (FTR)

Bank of Montreal Can trimmed its position in shares of Frontier Communications Corporation (NASDAQ:FTR) by 96.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,068 shares of the utilities provider’s stock after selling 3,651,828 shares during the period. Bank of Montreal Can’s holdings in Frontier Communications Corporation were worth $150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cadence Capital Management LLC raised its position in Frontier Communications Corporation by 6.1% in the first quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 2,661 shares in the last quarter. WFG Advisors LP raised its position in Frontier Communications Corporation by 5.8% in the first quarter. WFG Advisors LP now owns 50,026 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,751 shares in the last quarter. Eqis Capital Management Inc. raised its position in Frontier Communications Corporation by 47.3% in the first quarter. Eqis Capital Management Inc. now owns 57,967 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 18,615 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Frontier Communications Corporation by 27.9% in the first quarter. Oppenheimer & Co. Inc. now owns 64,788 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 14,124 shares in the last quarter. Finally, United Capital Financial Advisers LLC raised its position in Frontier Communications Corporation by 13.0% in the first quarter. United Capital Financial Advisers LLC now owns 70,410 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 8,114 shares in the last quarter.

Several analysts have recently weighed in on FTR shares. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 price target (down previously from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Wednesday, July 5th. Morgan Stanley reduced their price objective on shares of Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating on the stock in a research note on Wednesday, June 14th. ValuEngine raised shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $7.14.

Frontier Communications Corporation (NASDAQ:FTR) traded up 0.580% on Friday, hitting $12.995. 1,088,141 shares of the stock traded hands. The firm’s market capitalization is $1.02 billion. The stock has a 50 day moving average of $14.16 and a 200 day moving average of $22.27. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $66.00.

Frontier Communications Corporation (NASDAQ:FTR) last released its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.03). The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The company’s revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) earnings per share. Equities research analysts anticipate that Frontier Communications Corporation will post ($4.13) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 18.56%. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. Frontier Communications Corporation’s dividend payout ratio is currently -16.65%.

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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).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

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