Frontier Communications Corporation (NASDAQ:FTR) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Frontier Communications Corporation (NASDAQ:FTR) posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by $0.03, Bloomberg Earnings reports. 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%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS.

Frontier Communications Corporation (NASDAQ FTR) opened at 14.91 on Friday. The stock’s market capitalization is $1.17 billion. Frontier Communications Corporation has a 12 month low of $13.13 and a 12 month high of $73.65. The company’s 50-day moving average is $15.64 and its 200-day moving average is $28.36.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.60 per share. This is a boost from Frontier Communications Corporation’s previous quarterly dividend of $0.04. This represents a $2.40 dividend on an annualized basis and a yield of 16.10%. The ex-dividend date is Thursday, September 14th. Frontier Communications Corporation’s dividend payout ratio (DPR) is -16.65%.

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Several analysts have recently weighed in on the stock. Hilliard Lyons cut shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research report on Wednesday. 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 report on Tuesday. Royal Bank Of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of Frontier Communications Corporation in a research report on Tuesday. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 target price (down previously from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Finally, Cowen and Company reiterated a “market perform” rating on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.11.

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Frontier Communications Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,509 shares of the utilities provider’s stock worth $141,000 after buying an additional 2,570 shares in the last quarter. Norges Bank bought a new position in shares of Frontier Communications Corporation during the fourth quarter valued at approximately $17,074,000. UBS Asset Management Americas Inc. raised its position 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 valued at $10,381,000 after buying an additional 7,722 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Frontier Communications Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 1,542,051 shares of the utilities provider’s stock valued at $5,212,000 after buying an additional 142,788 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of Frontier Communications Corporation during the fourth quarter valued at approximately $288,000.

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).

Earnings History for Frontier Communications Corporation (NASDAQ:FTR)

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