$2.25 Billion in Sales Expected for Frontier Communications Corporation (FTR) This Quarter

Wall Street brokerages expect that Frontier Communications Corporation (NASDAQ:FTR) will announce $2.25 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Frontier Communications Corporation’s earnings, with the highest sales estimate coming in at $2.27 billion and the lowest estimate coming in at $2.25 billion. Frontier Communications Corporation posted sales of $2.52 billion in the same quarter last year, which suggests a negative year over year growth rate of 10.7%. The firm is scheduled to announce its next earnings report on Tuesday, November 7th.

On average, analysts expect that Frontier Communications Corporation will report full year sales of $2.25 billion for the current financial year, with estimates ranging from $9.11 billion to $9.17 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.65 billion per share, with estimates ranging from $8.49 billion to $8.84 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Frontier Communications Corporation.

Frontier Communications Corporation (NASDAQ:FTR) last posted its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted ($0.29) earnings per share. Frontier Communications Corporation’s revenue for the quarter was down 11.7% compared to the same quarter last year.

FTR has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating for the company in a report on Wednesday, June 14th. BidaskClub upgraded Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a report on Wednesday, July 5th. ValuEngine upgraded Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Cowen and Company reiterated a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.14.

Several large investors have recently made changes to their positions in the stock. Keybank National Association OH boosted its position in shares of Frontier Communications Corporation by 0.9% during the first quarter. Keybank National Association OH now owns 81,836 shares of the utilities provider’s stock valued at $175,000 after buying an additional 766 shares during the last quarter. Cadence Capital Management LLC boosted its position in Frontier Communications Corporation by 6.1% in the first quarter. Cadence Capital Management LLC now owns 46,516 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 2,661 shares during the last quarter. WFG Advisors LP boosted its position in Frontier Communications Corporation by 5.8% in the first quarter. WFG Advisors LP now owns 50,026 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,751 shares during the last quarter. Bollard Group LLC boosted its position in Frontier Communications Corporation by 3.3% in the second quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 2,973 shares during the last quarter. Finally, Aviva PLC boosted its position in Frontier Communications Corporation by 0.5% in the second quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock worth $855,000 after purchasing an additional 3,410 shares during the last quarter.

Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at 13.76 on Wednesday. The company’s 50-day moving average price is $14.28 and its 200-day moving average price is $22.66. Frontier Communications Corporation has a 1-year low of $11.65 and a 1-year high of $68.40. The company’s market capitalization is $1.08 billion.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.60 per share. This is a boost from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.40 annualized dividend and a dividend yield of 17.44%. Frontier Communications Corporation’s payout ratio is presently -16.65%.

COPYRIGHT VIOLATION NOTICE: “$2.25 Billion in Sales Expected for Frontier Communications Corporation (FTR) This Quarter” was reported by Stock Observer and is owned by of Stock Observer. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.thestockobserver.com/2017/09/13/2-25-billion-in-sales-expected-for-frontier-communications-corporation-ftr-this-quarter.html.

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).

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