Trade Report: Today, Frontier Communications Corp. (FTR) Short Interest Up 7.0% in November

Today, Frontier Communications Corp. (FTR) Short Interest Up 7.0% in November

Frontier Communications Corp. (NASDAQ:FTR) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 248,282,084 shares, an increase of 7.0% from the October 31st total of 231,997,084 shares. Based on an average daily trading volume, of 32,134,328 shares, the days-to-cover ratio is currently 7.7 days. Currently, 21.4% of the shares of the stock are sold short.

Large investors have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. raised its stake in shares of Frontier Communications Corp. by 85.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 925,330 shares of the company’s stock worth $4,571,000 after buying an additional 425,682 shares during the period. Creative Planning raised its stake in shares of Frontier Communications Corp. by 0.4% in the second quarter. Creative Planning now owns 196,693 shares of the company’s stock worth $971,000 after buying an additional 828 shares during the period. Atria Investments LLC bought a new stake in shares of Frontier Communications Corp. during the second quarter worth about $566,000. Chevy Chase Trust Holdings Inc. raised its position in Frontier Communications Corp. by 1.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,005,372 shares of the company’s stock valued at $4,966,000 after buying an additional 18,179 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in Frontier Communications Corp. by 6.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 303,652 shares of the company’s stock valued at $1,500,000 after buying an additional 19,229 shares during the last quarter. 66.51% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on FTR. Jefferies Group restated a “buy” rating and issued a $6.00 price target on shares of Frontier Communications Corp. in a research report on Tuesday, August 2nd. Raymond James Financial Inc. dropped their price objective on Frontier Communications Corp. from $6.00 to $5.50 and set an “outperform” rating for the company in a research report on Tuesday, August 2nd. Hilliard Lyons reiterated a “neutral” rating on shares of Frontier Communications Corp. in a research report on Thursday, November 3rd. Deutsche Bank AG cut Frontier Communications Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research report on Wednesday, November 2nd. Finally, Wells Fargo & Co. reiterated an “outperform” rating and set a $8.75 price objective on shares of Frontier Communications Corp. in a research report on Monday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.54.

Shares of Frontier Communications Corp. (NASDAQ:FTR) opened at 3.69 on Friday. 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 capitalization is $4.33 billion. Frontier Communications Corp. has a one year low of $3.10 and a one year high of $5.85.

Frontier Communications Corp. (NASDAQ:FTR) last announced its earnings results on Tuesday, November 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Frontier Communications Corp. had a positive return on equity of 2.05% and a negative net margin of 5.01%. Frontier Communications Corp.’s revenue for the quarter was up 77.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts expect that Frontier Communications Corp. will post ($0.10) earnings per share for the current year.

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

Frontier Communications Corp. Company Profile

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