Frontier Communications Corporation (FTR) Downgraded to Hold at Gabelli

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.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation had a negative net margin of 9.17% and a negative return on equity of 1.97%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm earned ($0.64) earnings per share. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. analysts predict that Frontier Communications Corporation will post -4.11 earnings per share for the current fiscal year.

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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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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