Vetr Inc. Lowers Frontier Communications Corporation (FTR) to Buy

Vetr lowered shares of Frontier Communications Corporation (NASDAQ:FTR) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning. Vetr currently has $13.35 price objective on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on FTR. Hilliard Lyons cut shares of Frontier Communications Corporation from a neutral rating to an underperform rating in a report on Wednesday, August 9th. UBS Group AG (USA) reiterated a neutral rating and set a $15.00 price target (down previously from $26.25) on shares of Frontier Communications Corporation in a report on Tuesday, August 8th. Royal Bank Of Canada reiterated a sector perform rating and set a $16.00 price target on shares of Frontier Communications Corporation in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Frontier Communications Corporation from a sell rating to a hold rating in a report on Tuesday, October 24th. Finally, Cowen and Company reiterated a market perform rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $9.93.

Shares of Frontier Communications Corporation (FTR) traded down $1.45 during midday trading on Tuesday, hitting $7.41. 9,993,741 shares of the company’s stock were exchanged, compared to its average volume of 3,246,030. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 5.16.

Frontier Communications Corporation (NASDAQ:FTR) last announced its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation 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 the consensus estimate of $2.25 billion. During the same quarter last year, the firm earned ($0.64) earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. equities research analysts expect that Frontier Communications Corporation will post -4.74 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 32.39%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications Corporation’s dividend payout ratio is currently -17.38%.

Several institutional investors have recently modified their holdings of the company. Stevens Capital Management LP purchased a new position in shares of Frontier Communications Corporation during the 3rd quarter worth $844,000. Crossmark Global Holdings Inc. purchased a new position in shares of Frontier Communications Corporation during the 3rd quarter worth $146,000. Fox Run Management L.L.C. purchased a new position in shares of Frontier Communications Corporation during the 3rd quarter worth $217,000. Strs Ohio purchased a new position in shares of Frontier Communications Corporation during the 3rd quarter worth $1,571,000. Finally, Shell Asset Management Co. purchased a new position in shares of Frontier Communications Corporation during the 3rd quarter worth $1,021,000.

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).

To view Vetr’s full report, visit Vetr’s official website.

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