Frontier Communications Corporation (NASDAQ:FTR)’s share price was down 0% during trading on Thursday . The stock traded as low as $8.32 and last traded at $8.69. Approximately 7,290,558 shares changed hands during mid-day trading, an increase of 143% from the average daily volume of 2,998,528 shares. The stock had previously closed at $8.69.
Several equities analysts have commented on FTR shares. Vetr downgraded Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 price objective on the stock. in a research report on Tuesday, October 31st. BidaskClub upgraded Frontier Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lowered their target price on Frontier Communications to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Cowen reiterated a “hold” rating and issued a $14.00 target price on shares of Frontier Communications in a report on Thursday, October 19th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.30.
The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 29.70%. The ex-dividend date is Thursday, December 14th. Frontier Communications’s dividend payout ratio (DPR) is currently -17.38%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Frontier Communications during the 3rd quarter worth $176,000. Engineers Gate Manager LP purchased a new stake in shares of Frontier Communications during the 3rd quarter worth $138,000. Pinnacle Associates Ltd. purchased a new stake in shares of Frontier Communications during the 3rd quarter worth $535,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Frontier Communications during the 3rd quarter worth $174,000. Finally, SG Americas Securities LLC lifted its stake in shares of Frontier Communications by 109.9% during the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 357,493 shares during the last quarter. Hedge funds and other institutional investors own 67.62% 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).
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