Frontier Communications (NASDAQ:FTR) Rating Reiterated by Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of Frontier Communications (NASDAQ:FTR) in a report released on Monday, November 20th, MarketBeat Ratings reports. They currently have a $8.00 price target on the utilities provider’s stock, down from their previous price target of $16.00.

FTR has been the subject of a number of other research reports. Cowen reissued a market perform rating on shares of Frontier Communications in a research note on Wednesday, August 2nd. BidaskClub raised shares of Frontier Communications from a sell rating to a hold rating in a research note on Thursday, November 9th. Deutsche Bank cut their price target on shares of Frontier Communications from $17.00 to $15.00 and set a hold rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Frontier Communications from a sell rating to a hold rating in a research note on Tuesday, October 24th. Finally, Bank of America cut shares of Frontier Communications from a neutral rating to an underperform rating and set a $4.00 price objective for the company. in a research note on Friday, November 10th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $9.46.

Frontier Communications (NASDAQ:FTR) traded up $0.37 during mid-day trading on Monday, reaching $9.15. 2,823,233 shares of the company’s stock were exchanged, compared to its average volume of 2,946,856. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70. Frontier Communications has a fifty-two week low of $6.08 and a fifty-two week high of $57.30.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.01. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company earned ($0.64) EPS. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. equities research analysts forecast that Frontier Communications will post -4.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 26.23%. Frontier Communications’s dividend payout ratio is currently -17.38%.

A number of large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in Frontier Communications by 40.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 216,100 shares of the utilities provider’s stock worth $462,000 after purchasing an additional 62,597 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Frontier Communications by 11.1% in the 1st quarter. Nuveen Asset Management LLC now owns 351,714 shares of the utilities provider’s stock worth $753,000 after purchasing an additional 35,198 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Frontier Communications by 33.2% in the 2nd quarter. Gateway Investment Advisers LLC now owns 265,399 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 66,223 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Frontier Communications by 85.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 107,296 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 49,329 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Frontier Communications by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 551,197 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 9,560 shares in the last quarter. Institutional investors own 67.64% of the company’s stock.

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About Frontier Communications

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 (NASDAQ:FTR)

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