Frontier Communications Corp Coverage Initiated at Bernstein (FTR)
Equities researchers at Bernstein started coverage on shares of Frontier Communications Corp (NYSE:FTR) in a research report issued on Wednesday. The firm set a “market perform” rating and a $7.00 price target on the stock. Bernstein’s price objective would indicate a potential upside of 25.00% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Gabelli downgraded shares of Frontier Communications Corp from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Separately, analysts at DA Davidson downgraded shares of Frontier Communications Corp from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 14th. They now have a $5.00 price target on the stock. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.60.
Frontier Communications Corp (NYSE:FTR) traded down 4.27% on Wednesday, hitting $5.60. The stock had a trading volume of 29,926,976 shares. Frontier Communications Corp has a one year low of $3.80 and a one year high of $6.10. The stock has a 50-day moving average of $5.80 and a 200-day moving average of $5.05. The company has a market cap of $5.613 billion and a P/E ratio of 58.50.
Frontier Communications Corp (NYSE:FTR) last announced its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.02. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted $0.05 earnings per share. Frontier Communications Corp’s revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that Frontier Communications Corp will post $0.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date of this dividend is Thursday, June 5th.
Frontier Communications Corporation is a communications company. The Company is engaged in providing services predominantly to rural areas and small and medium-sized towns and cities in the United States.
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