$2.13 Billion in Sales Expected for Frontier Communications Corp (FTR) This Quarter

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Equities research analysts expect Frontier Communications Corp (NASDAQ:FTR) to report $2.13 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Frontier Communications’ earnings. The lowest sales estimate is $2.12 billion and the highest is $2.14 billion. Frontier Communications posted sales of $2.25 billion during the same quarter last year, which suggests a negative year over year growth rate of 5.3%. The firm is expected to report its next earnings results on Tuesday, October 30th.

On average, analysts expect that Frontier Communications will report full-year sales of $8.59 billion for the current fiscal year, with estimates ranging from $8.57 billion to $8.61 billion. For the next fiscal year, analysts forecast that the company will report sales of $8.24 billion per share, with estimates ranging from $8.13 billion to $8.37 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Frontier Communications.

Frontier Communications (NASDAQ:FTR) last issued its earnings results on Tuesday, July 31st. The utilities provider reported ($0.80) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.03. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Frontier Communications had a negative return on equity of 2.48% and a negative net margin of 12.06%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) EPS.

FTR has been the topic of several recent research reports. Zacks Investment Research upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Tuesday, July 3rd. BidaskClub cut Frontier Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 9th. Cowen set a $6.00 target price on Frontier Communications and gave the stock a “hold” rating in a report on Tuesday, July 31st. Royal Bank of Canada restated a “hold” rating and set a $6.00 target price on shares of Frontier Communications in a report on Friday, August 3rd. Finally, Guggenheim restated a “sell” rating and set a $4.20 target price on shares of Frontier Communications in a report on Wednesday, August 1st. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Frontier Communications presently has an average rating of “Hold” and a consensus target price of $7.80.

Shares of Frontier Communications stock opened at $5.14 on Monday. The company has a market cap of $554.44 million, a PE ratio of -1.36 and a beta of 0.57. Frontier Communications has a 1-year low of $4.52 and a 1-year high of $15.44. The company has a debt-to-equity ratio of 6.75, a quick ratio of 0.45 and a current ratio of 0.47.

Large investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. acquired a new position in shares of Frontier Communications in the first quarter worth $114,000. Xact Kapitalforvaltning AB acquired a new position in shares of Frontier Communications in the first quarter worth $119,000. IFP Advisors Inc grew its stake in shares of Frontier Communications by 843.6% during the first quarter. IFP Advisors Inc now owns 17,022 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 15,218 shares in the last quarter. Stevens Capital Management LP acquired a new position in shares of Frontier Communications during the second quarter worth $106,000. Finally, Midas Management Corp acquired a new position in shares of Frontier Communications during the second quarter worth $136,000. Institutional investors and hedge funds own 65.93% of the company’s stock.

About Frontier Communications

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 broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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