Shares of Frontier Communications Corp (NASDAQ:FTR) have received an average rating of “Sell” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $3.58.
A number of equities analysts have weighed in on FTR shares. BidaskClub upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Raymond James cut Frontier Communications from an “outperform” rating to a “market perform” rating and set a $2.51 target price on the stock. in a research report on Tuesday, February 19th. Royal Bank of Canada restated a “hold” rating and set a $3.00 target price on shares of Frontier Communications in a research report on Wednesday, February 27th. Cowen restated a “hold” rating and set a $3.00 target price on shares of Frontier Communications in a research report on Wednesday, February 27th. Finally, Zacks Investment Research upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Tuesday, January 29th.
Large investors have recently bought and sold shares of the company. Shelton Capital Management acquired a new stake in Frontier Communications in the 4th quarter worth about $25,000. Coldstream Capital Management Inc. acquired a new stake in Frontier Communications in the 4th quarter worth about $25,000. Royal London Asset Management Ltd. acquired a new stake in Frontier Communications in the 4th quarter worth about $34,000. Cetera Advisors LLC acquired a new stake in Frontier Communications in the 1st quarter worth about $35,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Frontier Communications in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 78.26% of the company’s stock.
Frontier Communications (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.27. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.10 billion. Frontier Communications had a negative return on equity of 2.14% and a negative net margin of 8.81%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. Analysts forecast that Frontier Communications will post -0.73 EPS for the current year.
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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