Frontier Communications Corporation (FTR) Position Lowered by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI decreased its holdings in Frontier Communications Corporation (NASDAQ:FTR) by 87.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,291 shares of the utilities provider’s stock after selling 596,288 shares during the quarter. Commerzbank Aktiengesellschaft FI owned approximately 0.11% of Frontier Communications Corporation worth $102,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Cadence Capital Management LLC lifted its stake in shares of 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 acquiring an additional 2,661 shares in the last quarter. WFG Advisors LP lifted its stake in shares of 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 acquiring an additional 2,751 shares in the last quarter. Bollard Group LLC lifted its stake in shares of 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 acquiring an additional 2,973 shares in the last quarter. World Asset Management Inc lifted its stake in shares of Frontier Communications Corporation by 14.5% in the second quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 13,158 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in shares of Frontier Communications Corporation by 47.3% in the first quarter. Eqis Capital Management Inc. now owns 57,967 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 18,615 shares in the last quarter.

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FTR has been the topic of several recent analyst reports. BidaskClub upgraded Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. UBS AG restated a “neutral” rating and set a $15.00 price objective (down previously from $26.25) on shares of Frontier Communications Corporation in a research note on Tuesday, August 8th. Morgan Stanley cut their price objective on Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating on the stock in a research note on Wednesday, June 14th. Jefferies Group LLC restated a “buy” rating and set a $25.00 price objective (down previously from $30.00) on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Finally, Hilliard Lyons cut Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.14.

Frontier Communications Corporation (NASDAQ:FTR) opened at 13.76 on Wednesday. The stock’s 50 day moving average price is $14.28 and its 200 day moving average price is $22.66. Frontier Communications Corporation has a 12-month low of $11.65 and a 12-month high of $68.40. The company’s market capitalization is $1.08 billion.

Frontier Communications Corporation (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) EPS. On average, equities research analysts anticipate that Frontier Communications Corporation will post ($4.13) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid 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 is Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 17.44%. Frontier Communications Corporation’s dividend payout ratio (DPR) is currently -16.65%.

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).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

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