Frontier Communications (FTR) Sets New 1-Year Low at $3.48

Frontier Communications Corp (NASDAQ:FTR) shares hit a new 52-week low on Friday . The stock traded as low as $3.48 and last traded at $3.51, with a volume of 100643 shares. The stock had previously closed at $3.67.

Several brokerages have recently weighed in on FTR. BidaskClub upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of Frontier Communications from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. UBS Group lowered shares of Frontier Communications from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $6.00 to $3.00 in a report on Wednesday, November 7th. Morgan Stanley cut their price objective on shares of Frontier Communications from $10.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 19th. Finally, Royal Bank of Canada set a $5.00 price objective on shares of Frontier Communications and gave the stock a “hold” rating in a report on Monday, November 19th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Frontier Communications currently has an average rating of “Hold” and an average target price of $5.19.

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 8.44.

Frontier Communications (NASDAQ:FTR) last posted its earnings results on Tuesday, November 6th. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.13. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.12 billion. Frontier Communications had a negative net margin of 16.69% and a negative return on equity of 2.35%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.94) EPS. As a group, sell-side analysts anticipate that Frontier Communications Corp will post -1.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC acquired a new stake in Frontier Communications in the third quarter valued at approximately $103,000. Stevens Capital Management LP acquired a new stake in Frontier Communications in the second quarter valued at approximately $106,000. Caxton Associates LP acquired a new stake in Frontier Communications in the third quarter valued at approximately $121,000. Glen Harbor Capital Management LLC grew its position in Frontier Communications by 78.2% in the second quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 10,132 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Frontier Communications in the second quarter valued at approximately $153,000. 71.60% of the stock is owned by hedge funds and other institutional investors.

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Frontier Communications Company Profile (NASDAQ:FTR)

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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