Barings LLC Has $1,057,000 Stake in Frontier Communications Corporation (FTR)

Barings LLC continued to hold its position in shares of Frontier Communications Corporation (NASDAQ:FTR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 493,867 shares of the utilities provider’s stock at the end of the 2nd quarter. Barings LLC owned 0.63% of Frontier Communications Corporation worth $1,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bollard Group LLC lifted its position in shares of Frontier Communications Corporation by 3.3% during the 2nd quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 2,973 shares during the period. Aviva PLC lifted its position in shares of Frontier Communications Corporation by 0.5% during the 2nd quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock valued at $855,000 after acquiring an additional 3,410 shares during the period. Amalgamated Bank lifted its position in shares of Frontier Communications Corporation by 2.0% during the 1st quarter. Amalgamated Bank now owns 185,340 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 3,557 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Frontier Communications Corporation by 2.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 235,251 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 5,888 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Frontier Communications Corporation by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 494,600 shares of the utilities provider’s stock valued at $574,000 after acquiring an additional 6,600 shares during the period.

FTR has been the subject of a number of recent analyst reports. BidaskClub upgraded Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine downgraded Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised Frontier Communications Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 14th. Morgan Stanley lowered their price target on Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating for the company in a report on Wednesday, June 14th. Finally, Hilliard Lyons cut Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Frontier Communications Corporation presently has a consensus rating of “Hold” and an average price target of $8.02.

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Shares of Frontier Communications Corporation (NASDAQ FTR) opened at 12.20 on Thursday. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $63.90. The firm’s market cap is $957.90 million. The stock has a 50 day moving average price of $12.74 and a 200 day moving average price of $18.57.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.03). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The firm’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) EPS. Equities analysts expect that Frontier Communications Corporation will post ($4.13) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.40 annualized dividend and a dividend yield of 19.67%. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04. Frontier Communications Corporation’s payout ratio is currently -16.65%.

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).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

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