Frontier Communications Corp (FTR) Expected to Post Quarterly Sales of $2.13 Billion

Wall Street brokerages expect that Frontier Communications Corp (NASDAQ:FTR) will post $2.13 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Frontier Communications’ earnings. The lowest sales estimate is $2.12 billion and the highest is $2.14 billion. Frontier Communications posted sales of $2.25 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The company is expected to issue its next earnings report after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that Frontier Communications will report full-year sales of $8.59 billion for the current fiscal year, with estimates ranging from $8.57 billion to $8.61 billion. For the next year, analysts anticipate that the company will post sales of $8.24 billion, with estimates ranging from $8.13 billion to $8.37 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Frontier Communications.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.83) by $0.03. Frontier Communications had a negative net margin of 12.06% and a negative return on equity of 2.48%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company earned ($1.10) earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year.

FTR has been the topic of several recent analyst reports. Cowen set a $6.00 target price on shares of Frontier Communications and gave the company a “hold” rating in a research note on Tuesday, July 31st. BidaskClub upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating in a research note on Thursday, September 20th. Guggenheim restated a “sell” rating and issued a $4.20 target price on shares of Frontier Communications in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Frontier Communications from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Tuesday, July 3rd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.20.

Shares of NASDAQ:FTR opened at $5.48 on Friday. Frontier Communications has a 52 week low of $4.52 and a 52 week high of $12.19. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $598.89 million, a PE ratio of -1.45 and a beta of 0.58.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new position in Frontier Communications during the 1st quarter worth about $119,000. Stevens Capital Management LP bought a new stake in Frontier Communications during the 2nd quarter worth about $106,000. Glen Harbor Capital Management LLC raised its holdings in Frontier Communications by 78.2% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 10,132 shares during the last quarter. Midas Management Corp bought a new stake in Frontier Communications during the 2nd quarter worth about $136,000. Finally, Captrust Financial Advisors bought a new stake in Frontier Communications during the 2nd quarter worth about $153,000. Institutional investors and hedge funds own 62.72% of the company’s stock.

Frontier Communications Company Profile

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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