Trade Report: The Frontier Communications Corp. (FTR) Price Target Cut to $5.00 by Analysts at Jefferies Group

The Frontier Communications Corp. (FTR) Price Target Cut to $5.00 by Analysts at Jefferies Group

Frontier Communications Corp. (NASDAQ:FTR) had its price target lowered by Jefferies Group from $6.00 to $5.00 in a report published on Tuesday. The firm currently has a buy rating on the stock.

FTR has been the subject of several other research reports. Citigroup Inc. decreased their target price on Frontier Communications Corp. from $4.00 to $3.50 and set a sell rating for the company in a research report on Friday, September 16th. Macquarie initiated coverage on Frontier Communications Corp. in a research report on Monday, July 11th. They issued an underperform rating and a $4.65 target price for the company. Wells Fargo & Co. reiterated an outperform rating and issued a $8.75 target price on shares of Frontier Communications Corp. in a research report on Monday, September 19th. Zacks Investment Research upgraded Frontier Communications Corp. from a hold rating to a buy rating and set a $5.50 target price for the company in a research report on Friday, July 8th. Finally, Morgan Stanley downgraded Frontier Communications Corp. from an overweight rating to an equal weight rating and cut their price target for the stock from $6.00 to $5.40 in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Frontier Communications Corp. currently has a consensus rating of Buy and a consensus target price of $5.79.

Shares of Frontier Communications Corp. (NASDAQ:FTR) traded down 1.93% during trading on Tuesday, reaching $4.07. 3,548,759 shares of the company traded hands. Frontier Communications Corp. has a 1-year low of $3.81 and a 1-year high of $5.85. The stock’s 50 day moving average is $4.40 and its 200 day moving average is $4.96. The company’s market capitalization is $4.77 billion.

Frontier Communications Corp. (NASDAQ:FTR) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.04. Frontier Communications Corp. had a negative net margin of 4.85% and a positive return on equity of 2.52%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $0.03 EPS. Frontier Communications Corp.’s revenue for the quarter was up 90.6% compared to the same quarter last year. On average, analysts forecast that Frontier Communications Corp. will post ($0.08) EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 10.12%. The ex-dividend date was Tuesday, September 13th. Frontier Communications Corp.’s payout ratio is -85.71%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hexavest Inc. acquired a new position in shares of Frontier Communications Corp. during the second quarter worth $34,473,000. Vanguard Group Inc. increased its position in shares of Frontier Communications Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 113,217,359 shares of the company’s stock worth $559,294,000 after buying an additional 4,580,840 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Frontier Communications Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,978,633 shares of the company’s stock worth $148,084,000 after buying an additional 3,606,058 shares in the last quarter. FMR LLC increased its position in shares of Frontier Communications Corp. by 11.9% in the second quarter. FMR LLC now owns 33,237,126 shares of the company’s stock worth $164,192,000 after buying an additional 3,526,930 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Frontier Communications Corp. by 933.0% in the second quarter. Janus Capital Management LLC now owns 3,720,243 shares of the company’s stock worth $18,378,000 after buying an additional 3,360,094 shares in the last quarter. Institutional investors and hedge funds own 65.93% of the company’s stock.

About Frontier Communications Corp.

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