Frontier Communications Corporation’s (NASDAQ:FTR) Neutral Rating Reiterated at UBS AG

UBS AG reaffirmed their neutral rating on shares of Frontier Communications Corporation (NASDAQ:FTR) in a research note issued to investors on Tuesday morning, www.flashratings.com reports. UBS AG currently has a $15.00 price objective on the utilities provider’s stock, down from their prior price objective of $26.25.

Other equities research analysts have also issued reports about the company. Jefferies Group LLC restated a buy rating and issued a $4.00 price objective (up from $3.50) on shares of Frontier Communications Corporation in a research note on Friday, April 28th. Zacks Investment Research lowered Frontier Communications Corporation from a buy rating to a hold rating in a research note on Thursday, July 6th. Royal Bank Of Canada restated a sector perform rating and issued a $16.00 price objective on shares of Frontier Communications Corporation in a research note on Tuesday. Morgan Stanley reduced their price objective on Frontier Communications Corporation from $2.30 to $1.50 and set an equal weight rating for the company in a research note on Wednesday, June 14th. Finally, Cowen and Company restated a market perform rating on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Frontier Communications Corporation currently has a consensus rating of Hold and a consensus price target of $6.11.

Frontier Communications Corporation (FTR) traded down 1.19% during mid-day trading on Tuesday, reaching $14.91. The company’s stock had a trading volume of 2,340,473 shares. The firm’s market cap is $1.17 billion. The company has a 50-day moving average price of $15.64 and a 200-day moving average price of $28.36. Frontier Communications Corporation has a 12-month low of $13.13 and a 12-month high of $73.65.

Frontier Communications Corporation (NASDAQ:FTR) last announced its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by $0.03. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. Frontier Communications Corporation’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. On average, equities research analysts expect that Frontier Communications Corporation will post ($3.95) earnings per share for the current year.

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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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 16.10%. The ex-dividend date is Thursday, September 14th. This is a positive change from Frontier Communications Corporation’s previous quarterly dividend of $0.04. Frontier Communications Corporation’s dividend payout ratio is presently -16.65%.

A number of large investors have recently modified their holdings of FTR. Bank of Montreal Can raised its stake in shares of Frontier Communications Corporation by 18.9% in the first quarter. Bank of Montreal Can now owns 3,780,896 shares of the utilities provider’s stock worth $8,091,000 after buying an additional 601,074 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Frontier Communications Corporation by 0.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,071,083 shares of the utilities provider’s stock worth $10,381,000 after buying an additional 7,722 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Frontier Communications Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,389,292 shares of the utilities provider’s stock worth $5,113,000 after buying an additional 25,389 shares during the last quarter. Bollard Group LLC raised its stake in shares of Frontier Communications Corporation by 5.0% in the first quarter. Bollard Group LLC now owns 89,879 shares of the utilities provider’s stock worth $192,000 after buying an additional 4,288 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Frontier Communications Corporation by 0.8% in the first quarter. Sigma Planning Corp now owns 48,578 shares of the utilities provider’s stock worth $104,000 after buying an additional 362 shares during the last quarter.

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).

Analyst Recommendations for Frontier Communications Corporation (NASDAQ:FTR)

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