Analysts Set Frontier Communications Corp (FTR) Price Target at $3.58

Frontier Communications Corp (NASDAQ:FTR) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.58.

FTR has been the topic of several recent research reports. BidaskClub upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 9th. Raymond James lowered Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 price target on the stock. in a research report on Tuesday, February 19th. Royal Bank of Canada restated a “hold” rating and set a $3.00 price target on shares of Frontier Communications in a research report on Wednesday, February 27th. Wells Fargo & Co lowered Frontier Communications from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $5.00 to $1.75 in a research report on Tuesday, January 8th. Finally, Cowen restated a “hold” rating and set a $3.00 price target on shares of Frontier Communications in a research report on Wednesday, February 27th.

Shares of Frontier Communications stock traded down $0.03 during trading on Thursday, hitting $2.56. 2,064,778 shares of the stock traded hands, compared to its average volume of 4,325,212. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 10.22. The firm has a market capitalization of $271.20 million, a PE ratio of -1.91 and a beta of 1.07. Frontier Communications has a 52 week low of $1.81 and a 52 week high of $11.64.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, February 26th. The utilities provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Frontier Communications had a negative net margin of 7.47% and a negative return on equity of 0.62%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company posted ($0.59) earnings per share. Frontier Communications’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts predict that Frontier Communications will post -0.76 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Frontier Communications by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 869,284 shares of the utilities provider’s stock worth $2,068,000 after buying an additional 4,526 shares during the period. Comerica Bank lifted its holdings in Frontier Communications by 5.7% in the 4th quarter. Comerica Bank now owns 118,598 shares of the utilities provider’s stock worth $219,000 after buying an additional 6,411 shares during the period. Royce & Associates LP lifted its holdings in Frontier Communications by 60.2% in the 4th quarter. Royce & Associates LP now owns 18,828 shares of the utilities provider’s stock worth $45,000 after buying an additional 7,076 shares during the period. Arizona State Retirement System lifted its holdings in Frontier Communications by 5.9% in the 4th quarter. Arizona State Retirement System now owns 162,544 shares of the utilities provider’s stock worth $387,000 after buying an additional 9,052 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Frontier Communications in the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 78.32% of the company’s stock.

About Frontier Communications

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 Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises.

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Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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