Shares of Frontier Communications Corp (NASDAQ:FTR) were up 10.1% during trading on Friday . The stock traded as high as $0.81 and last traded at $0.78, approximately 2,455,287 shares traded hands during mid-day trading. A decline of 33% from the average daily volume of 3,673,619 shares. The stock had previously closed at $0.71.
Several analysts recently commented on FTR shares. Guggenheim set a $1.00 target price on Frontier Communications and gave the company a “sell” rating in a report on Wednesday, August 7th. Royal Bank of Canada set a $1.00 price target on Frontier Communications and gave the company a “hold” rating in a research note on Wednesday, August 7th. Citigroup boosted their price target on Frontier Communications from $1.00 to $1.50 and gave the company a “positive” rating in a research note on Thursday, June 20th. They noted that the move was a valuation call. Cowen set a $2.00 price target on Frontier Communications and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Frontier Communications presently has an average rating of “Hold” and a consensus price target of $2.25.
The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 10.77. The company has a 50 day simple moving average of $1.36 and a 200-day simple moving average of $1.99. The stock has a market capitalization of $75.87 million, a price-to-earnings ratio of -0.58 and a beta of 1.46.
Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $1.26. Frontier Communications had a positive return on equity of 21.42% and a negative net margin of 71.86%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the firm earned ($0.92) earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontier Communications Corp will post -1.19 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Cetera Advisors LLC acquired a new position in shares of Frontier Communications during the first quarter worth approximately $35,000. BNP Paribas Arbitrage SA grew its holdings in Frontier Communications by 453.1% during the first quarter. BNP Paribas Arbitrage SA now owns 25,475 shares of the utilities provider’s stock worth $51,000 after buying an additional 20,869 shares in the last quarter. Marathon Trading Investment Management LLC bought a new stake in Frontier Communications during the first quarter worth $51,000. Royce & Associates LP grew its holdings in Frontier Communications by 40.6% during the first quarter. Royce & Associates LP now owns 26,468 shares of the utilities provider’s stock worth $53,000 after buying an additional 7,640 shares in the last quarter. Finally, RFG Advisory LLC bought a new stake in Frontier Communications during the first quarter worth $67,000. 77.10% of the stock is currently owned by institutional investors.
About Frontier Communications (NASDAQ:FTR)
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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