Zacks: Analysts Expect Frontier Communications Corporation (FTR) to Post -$0.07 Earnings Per Share

Equities research analysts predict that Frontier Communications Corporation (NASDAQ:FTR) will announce earnings per share (EPS) of ($0.07) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Frontier Communications Corporation’s earnings. The lowest EPS estimate is ($0.09) and the highest is ($0.03). Frontier Communications Corporation posted earnings per share of ($0.02) during the same quarter last year, which suggests a negative year-over-year growth rate of 250%. The firm is expected to issue its next earnings results on Monday, August 7th.

According to Zacks, analysts expect that Frontier Communications Corporation will report full-year earnings of ($0.26) per share for the current fiscal year, with EPS estimates ranging from ($0.35) to ($0.08). For the next year, analysts anticipate that the firm will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.20) to $0.22. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Frontier Communications Corporation.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corporation had a negative net margin of 2.65% and a positive return on equity of 0.19%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion.

Several analysts have issued reports on FTR shares. J P Morgan Chase & Co lowered shares of Frontier Communications Corporation from an “overweight” rating to a “neutral” rating and cut their price target for the company from $2.96 to $2.51 in a research report on Tuesday, February 28th. Morgan Stanley lowered shares of Frontier Communications Corporation from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 28th. Jefferies Group LLC cut their price target on shares of Frontier Communications Corporation from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Royal Bank Of Canada restated a “hold” rating and set a $3.50 price target on shares of Frontier Communications Corporation in a research report on Tuesday, February 28th. Finally, TheStreet lowered shares of Frontier Communications Corporation from a “c-” rating to a “d+” rating in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.27.

Frontier Communications Corporation (FTR) traded down 4.167% during midday trading on Tuesday, hitting $1.265. The company had a trading volume of 5,749,922 shares. The firm’s 50 day moving average is $1.37 and its 200-day moving average is $2.53. Frontier Communications Corporation has a 52 week low of $1.19 and a 52 week high of $5.22. The firm’s market capitalization is $1.49 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.16 annualized dividend and a yield of 12.12%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -38.10%.

WARNING: “Zacks: Analysts Expect Frontier Communications Corporation (FTR) to Post -$0.07 Earnings Per Share” was reported by Stock Observer and is owned by of Stock Observer. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.thestockobserver.com/2017/06/20/zacks-analysts-expect-frontier-communications-corporation-ftr-to-post-0-07-earnings-per-share.html.

A number of hedge funds have recently modified their holdings of FTR. BlackRock Inc. raised its stake in shares of Frontier Communications Corporation by 4,683.4% in the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock valued at $248,246,000 after buying an additional 113,578,500 shares during the period. State Street Corp raised its stake in shares of Frontier Communications Corporation by 4.5% in the fourth quarter. State Street Corp now owns 50,733,350 shares of the utilities provider’s stock valued at $171,484,000 after buying an additional 2,162,959 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Frontier Communications Corporation by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 23,878,281 shares of the utilities provider’s stock valued at $51,099,000 after buying an additional 4,110,957 shares during the period. First Trust Advisors LP increased its position in shares of Frontier Communications Corporation by 37.4% in the first quarter. First Trust Advisors LP now owns 21,219,375 shares of the utilities provider’s stock worth $45,409,000 after buying an additional 5,774,938 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Frontier Communications Corporation by 41.3% in the fourth quarter. Guggenheim Capital LLC now owns 12,999,789 shares of the utilities provider’s stock worth $43,939,000 after buying an additional 3,800,031 shares in the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.

Frontier Communications Corporation Company Profile

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).

Get a free copy of the Zacks research report on Frontier Communications Corporation (FTR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Frontier Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply