Trading Report: The Frontier Communications Corp. (FTR) Short Interest Update

The Frontier Communications Corp. (FTR) Short Interest Update

Frontier Communications Corp. (NASDAQ:FTR) was the target of a large increase in short interest in the month of October. As of October 14th, there was short interest totalling 235,622,932 shares, an increase of 3.2% from the September 30th total of 228,277,367 shares. Approximately 20.3% of the shares of the company are short sold. Based on an average daily trading volume, of 25,507,569 shares, the days-to-cover ratio is currently 9.2 days.

Shares of Frontier Communications Corp. (NASDAQ:FTR) opened at 4.03 on Friday. The stock’s market capitalization is $4.73 billion. The stock has a 50 day moving average price of $4.19 and a 200-day moving average price of $4.84. Frontier Communications Corp. has a 52-week low of $3.81 and a 52-week high of $5.85.

Frontier Communications Corp. (NASDAQ:FTR) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.04. The firm earned $2.61 billion during the quarter, compared to analyst estimates 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 for the quarter was up 90.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. On average, equities research analysts predict that Frontier Communications Corp. will post ($0.08) EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.105 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.42 dividend on an annualized basis and a yield of 10.42%. Frontier Communications Corp.’s payout ratio is currently -85.71%.

A number of large investors have recently made changes to their positions in the stock. Bayesian Capital Management LP purchased a new stake in shares of Frontier Communications Corp. during the first quarter worth approximately $117,000. Murphy Capital Management Inc. purchased a new stake in shares of Frontier Communications Corp. during the second quarter worth approximately $106,000. NEXT Financial Group Inc increased its stake in shares of Frontier Communications Corp. by 23.2% in the second quarter. NEXT Financial Group Inc now owns 22,450 shares of the company’s stock worth $110,000 after buying an additional 4,233 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Frontier Communications Corp. by 6.2% in the second quarter. Bank of Nova Scotia now owns 23,138 shares of the company’s stock worth $114,000 after buying an additional 1,360 shares during the last quarter. Finally, Private Bank & Trust Co. purchased a new stake in shares of Frontier Communications Corp. during the second quarter worth approximately $116,000. Hedge funds and other institutional investors own 65.90% of the company’s stock.

Several equities analysts have recently issued reports on FTR shares. Citigroup Inc. decreased their price objective on Frontier Communications Corp. from $4.00 to $3.50 and set a “sell” rating for the company in a report on Friday, September 16th. Macquarie started coverage on Frontier Communications Corp. in a research note on Monday, July 11th. They issued an “underperform” rating and a $4.65 price target for the company. Zacks Investment Research upgraded Frontier Communications Corp. from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Monday, October 24th. Wells Fargo & Co. restated an “outperform” rating and issued a $8.75 price target on shares of Frontier Communications Corp. in a research note on Monday, September 19th. Finally, Bank of America Corp. set a $8.00 price target on Frontier Communications Corp. and gave the company a “buy” rating in a research note on Monday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.70.

Frontier Communications Corp. Company Profile

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