Frontier Communications Corporation (FTR) Stock Rating Lowered by Bank of America Corporation

Bank of America Corporation cut shares of Frontier Communications Corporation (NASDAQ:FTR) from a neutral rating to an underperform rating in a research report report published on Friday, Marketbeat.com reports. Bank of America Corporation currently has $4.00 price target on the utilities provider’s stock.

Several other research firms have also recently issued reports on FTR. Royal Bank Of Canada reissued a hold rating and issued a $16.00 target price on shares of Frontier Communications Corporation in a research note on Sunday, September 17th. BidaskClub lowered shares of Frontier Communications Corporation from a sell rating to a strong sell rating in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of Frontier Communications Corporation from a hold rating to a sell rating in a report on Tuesday, October 3rd. UBS AG restated a neutral rating and issued a $15.00 price objective (down from $26.25) on shares of Frontier Communications Corporation in a report on Tuesday, August 8th. Finally, Jefferies Group LLC restated a buy rating and issued a $25.00 price objective (down from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Frontier Communications Corporation has an average rating of Hold and a consensus target price of $10.04.

Frontier Communications Corporation (NASDAQ FTR) traded up $0.19 during midday trading on Friday, hitting $6.96. The company had a trading volume of 3,416,600 shares, compared to its average volume of 2,825,809. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16. Frontier Communications Corporation has a 12 month low of $6.72 and a 12 month high of $57.30.

Frontier Communications Corporation (NASDAQ:FTR) last posted its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. Frontier Communications Corporation’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the firm earned ($0.64) earnings per share. analysts anticipate that Frontier Communications Corporation will post -4.11 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Frontier Communications Corporation (FTR) Stock Rating Lowered by Bank of America Corporation” was first posted by BBNS and is the sole property of of BBNS. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://baseballnewssource.com/markets/frontier-communications-corporation-ftr-stock-rating-lowered-by-bank-of-america-corporation/1775119.html.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 34.48%. Frontier Communications Corporation’s payout ratio is -17.38%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiera Capital Corp purchased a new position in Frontier Communications Corporation in the 2nd quarter worth approximately $905,000. Tudor Investment Corp ET AL raised its holdings in Frontier Communications Corporation by 259.9% in the 1st quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock worth $306,000 after acquiring an additional 103,170 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Frontier Communications Corporation by 53.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 381,695 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 132,156 shares during the last quarter. Vanguard Group Inc. raised its holdings in Frontier Communications Corporation by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after acquiring an additional 10,474,703 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Frontier Communications Corporation by 43.8% in the 2nd quarter. Northern Trust Corp now owns 17,209,093 shares of the utilities provider’s stock worth $19,963,000 after acquiring an additional 5,238,840 shares during the last quarter.

About Frontier Communications Corporation

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.