Trade Report: The Frontier Communications Corp. (FTR) Decreased to Market Perform at Wells Fargo & Co.

The Frontier Communications Corp. (FTR) Decreased to Market Perform at Wells Fargo & Co.

Frontier Communications Corp. (NASDAQ:FTR) was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a report issued on Wednesday.

FTR has been the topic of a number of other research reports. Zacks Investment Research lowered Frontier Communications Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Macquarie raised Frontier Communications Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 6th. Jefferies Group reissued a “buy” rating and set a $6.00 price objective on shares of Frontier Communications Corp. in a research note on Tuesday, August 2nd. Bank of America Corp. set a $8.00 price objective on Frontier Communications Corp. and gave the stock a “buy” rating in a research note on Monday, October 10th. Finally, Morgan Stanley lowered Frontier Communications Corp. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $6.00 to $5.40 in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $5.54.

Shares of Frontier Communications Corp. (NASDAQ:FTR) traded up 1.93% during trading on Wednesday, hitting $3.69. The stock had a trading volume of 5,704,093 shares. Frontier Communications Corp. has a 12 month low of $3.10 and a 12 month high of $5.85. The company’s 50 day moving average price is $3.71 and its 200 day moving average price is $4.56. The stock’s market cap is $4.33 billion.

Frontier Communications Corp. (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Frontier Communications Corp. had a positive return on equity of 2.05% and a negative net margin of 5.01%. The firm earned $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 77.2% on a year-over-year basis. Equities research analysts expect that Frontier Communications Corp. will post ($0.10) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.105 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.42 annualized dividend and a yield of 11.38%. Frontier Communications Corp.’s dividend payout ratio (DPR) is -77.78%.

Large investors have recently modified their holdings of the company. M&T Bank Corp increased its stake in shares of Frontier Communications Corp. by 33.8% in the first quarter. M&T Bank Corp now owns 94,733 shares of the company’s stock valued at $530,000 after buying an additional 23,927 shares during the period. State Street Corp increased its stake in shares of Frontier Communications Corp. by 1.2% in the first quarter. State Street Corp now owns 46,635,440 shares of the company’s stock valued at $260,696,000 after buying an additional 548,405 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Frontier Communications Corp. by 6.6% in the first quarter. Pictet Asset Management Ltd. now owns 633,265 shares of the company’s stock valued at $3,426,000 after buying an additional 39,000 shares during the period. Geode Capital Management LLC increased its stake in shares of Frontier Communications Corp. by 3.2% in the first quarter. Geode Capital Management LLC now owns 10,176,364 shares of the company’s stock valued at $56,777,000 after buying an additional 316,788 shares during the period. Finally, Kennedy Capital Management Inc. increased its stake in shares of Frontier Communications Corp. by 17.0% in the first quarter. Kennedy Capital Management Inc. now owns 663,998 shares of the company’s stock valued at $3,712,000 after buying an additional 96,491 shares during the period. Institutional investors own 66.51% of the company’s stock.

Frontier Communications Corp. Company Profile

Related posts

Leave a Comment