Trade Report: The 116 Shares of Frontier Communications Corp. (FTR) are sold by Shell Asset Management Co.

The 116 Shares of Frontier Communications Corp. (FTR) are sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in Frontier Communications Corp. (NASDAQ:FTR) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 58,831 shares of the company’s stock after selling 116 shares during the period. Shell Asset Management Co.’s holdings in Frontier Communications Corp. were worth $291,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Murphy Capital Management Inc. purchased a new stake in Frontier Communications Corp. during the second quarter valued at about $106,000. NEXT Financial Group Inc raised its stake in Frontier Communications Corp. by 23.2% in the second quarter. NEXT Financial Group Inc now owns 22,450 shares of the company’s stock valued at $110,000 after buying an additional 4,233 shares in the last quarter. Private Bank & Trust Co. purchased a new stake in Frontier Communications Corp. during the second quarter valued at about $116,000. Bayesian Capital Management LP purchased a new stake in Frontier Communications Corp. during the first quarter valued at about $117,000. Finally, Eqis Capital Management Inc. raised its stake in Frontier Communications Corp. by 7.6% in the second quarter. Eqis Capital Management Inc. now owns 31,641 shares of the company’s stock valued at $156,000 after buying an additional 2,242 shares in the last quarter. Institutional investors and hedge funds own 65.93% of the company’s stock.

Frontier Communications Corp. (NASDAQ:FTR) traded down 3.13% during trading on Wednesday, hitting $4.02. 12,995,169 shares of the stock traded hands. The stock’s market cap is $4.72 billion. Frontier Communications Corp. has a 12 month low of $3.81 and a 12 month high of $5.85. The company has a 50-day moving average price of $4.40 and a 200-day moving average price of $4.96.

Frontier Communications Corp. (NASDAQ:FTR) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.04. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Frontier Communications Corp. had a negative net margin of 4.85% and a positive return on equity of 2.52%. Frontier Communications Corp.’s revenue was up 90.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Equities research analysts expect that Frontier Communications Corp. will post ($0.08) EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.42 annualized dividend and a yield of 10.45%. Frontier Communications Corp.’s dividend payout ratio is currently -85.71%.

Several analysts recently issued reports on FTR shares. Zacks Investment Research upgraded shares of Frontier Communications Corp. from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Friday, July 8th. Bank of America Corp. set a $8.00 price objective on shares of Frontier Communications Corp. and gave the company a “buy” rating in a research note on Monday. Jefferies Group dropped their price objective on shares of Frontier Communications Corp. from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley downgraded shares of Frontier Communications Corp. from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $6.00 to $5.40 in a research note on Monday, July 18th. Finally, Macquarie raised shares of Frontier Communications Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $5.79.

Frontier Communications Corp. Company Profile

Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.

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