Marathon Capital Management increased its stake in shares of Frontier Communications Corporation (NASDAQ:FTR) by 42.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,236 shares of the utilities provider’s stock after buying an additional 150,905 shares during the quarter. Marathon Capital Management owned 0.66% of Frontier Communications Corporation worth $592,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in FTR. Cadence Capital Management LLC lifted its position in shares of Frontier Communications Corporation by 6.1% during the 1st quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider’s stock valued at $100,000 after buying an additional 2,661 shares during the last quarter. WFG Advisors LP lifted its holdings in Frontier Communications Corporation by 5.8% during the 1st 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. Bollard Group LLC lifted its holdings in Frontier Communications Corporation by 3.3% during the 2nd quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 2,973 shares in the last quarter. World Asset Management Inc lifted its holdings in Frontier Communications Corporation by 14.5% during the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 13,158 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its holdings in Frontier Communications Corporation by 47.3% during the 1st 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.
COPYRIGHT VIOLATION NOTICE: “Frontier Communications Corporation (NASDAQ:FTR) Holdings Lifted by Marathon Capital Management” was published by BBNS and is the sole property of of BBNS. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/marathon-capital-management-grows-holdings-in-frontier-communications-corporation-ftr/1602870.html.
A number of equities analysts have weighed in on the company. Hilliard Lyons lowered Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 9th. UBS AG reiterated a “neutral” rating and issued a $15.00 price objective on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Morgan Stanley dropped their price objective on Frontier Communications Corporation to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Jefferies Group LLC restated a “buy” rating and issued a $25.00 target price (down previously from $30.00) on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.14.
Frontier Communications Corporation (FTR) traded up 2.5062% during trading on Friday, reaching $13.2438. The company had a trading volume of 635,040 shares. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $66.00. The stock has a 50 day moving average price of $14.16 and a 200 day moving average price of $22.27. The firm’s market capitalization is $1.04 billion.
Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.03). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) EPS. Analysts predict that Frontier Communications Corporation will post ($4.13) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 18.56%. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. Frontier Communications Corporation’s dividend payout ratio (DPR) is currently -16.65%.
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).
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.