Gabelli lowered shares of Frontier Communications Corporation (NASDAQ:FTR) from a buy rating to a hold rating in a report published on Thursday morning, Marketbeat Ratings reports.
Other analysts have also issued reports about the stock. Royal Bank Of Canada reissued a hold rating and set a $16.00 price target on shares of Frontier Communications Corporation in a research report on Sunday, September 17th. BidaskClub lowered shares of Frontier Communications Corporation from a sell rating to a strong sell rating in a research report on Wednesday, October 18th. Zacks Investment Research lowered shares of Frontier Communications Corporation from a hold rating to a sell rating in a research report on Tuesday, October 3rd. UBS AG reissued a neutral rating and set a $15.00 price target (down from $26.25) on shares of Frontier Communications Corporation in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a buy rating and set a $25.00 price target (down from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Frontier Communications Corporation presently has a consensus rating of Hold and an average target price of $10.04.
Frontier Communications Corporation (FTR) traded down $1.19 during trading hours on Thursday, reaching $6.77. 8,011,800 shares of the company were exchanged, compared to its average volume of 2,823,098. Frontier Communications Corporation has a 52 week low of $6.72 and a 52 week high of $57.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 14th. This represents a $2.40 annualized dividend and a yield of 35.45%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -17.38%.
A number of large investors have recently modified their holdings of the stock. Pinnacle Associates Ltd. acquired a new position in Frontier Communications Corporation in the 3rd quarter worth approximately $535,000. Virginia Retirement Systems ET AL acquired a new position in Frontier Communications Corporation in the 3rd quarter worth approximately $174,000. SG Americas Securities LLC increased its holdings in Frontier Communications Corporation by 109.9% in the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock worth $381,000 after buying an additional 357,493 shares during the period. Quantbot Technologies LP acquired a new position in Frontier Communications Corporation in the 3rd quarter worth approximately $124,000. Finally, Stevens Capital Management LP acquired a new position in Frontier Communications Corporation in the 3rd quarter worth approximately $844,000.
About Frontier Communications Corporation
Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).
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