Frontier Communications (FTR) Stock Rating Lowered by BidaskClub

Frontier Communications (NASDAQ:FTR) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Other analysts have also issued research reports about the company. Vetr lowered Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 target price on the stock. in a research note on Tuesday, October 31st. Morgan Stanley reduced their target price on Frontier Communications to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $16.00 target price on shares of Frontier Communications in a research note on Sunday, September 17th. Zacks Investment Research upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Cowen reiterated a “hold” rating and issued a $14.00 target price on shares of Frontier Communications in a research note on Thursday, October 19th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.30.

Shares of Frontier Communications (NASDAQ:FTR) traded down $0.23 on Wednesday, reaching $7.11. The company had a trading volume of 3,643,400 shares, compared to its average volume of 3,046,181. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $57.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications (NASDAQ:FTR) last released its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted ($0.64) earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. sell-side analysts anticipate that Frontier Communications will post -4.17 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. FNY Partners Fund LP boosted its position in Frontier Communications by 900.0% during the second quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 9,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in Frontier Communications during the third quarter valued at about $124,000. Engineers Gate Manager LP bought a new stake in Frontier Communications during the third quarter valued at about $138,000. Crossmark Global Holdings Inc. bought a new stake in Frontier Communications during the third quarter valued at about $146,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Frontier Communications during the third quarter valued at about $174,000. 62.89% of the stock is currently owned by institutional investors.

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Frontier Communications 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).

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