Frontier Communications Corp Price Target Increased to $5.10 by Analysts at Macquarie (FTR)
Stock analysts at Macquarie upped their price target on shares of Frontier Communications Corp (NYSE:FTR) from $4.60 to $5.10 in a report issued on Thursday. Macquarie’s price target indicates a potential downside of 21.30% from the stock’s previous close.
Shares of Frontier Communications Corp (NYSE:FTR) traded down 1.07% on Thursday, hitting $6.48. The stock had a trading volume of 11,463,306 shares. Frontier Communications Corp has a 52-week low of $4.09 and a 52-week high of $7.24. The stock’s 50-day moving average is $5.87 and its 200-day moving average is $5.4. The company has a market cap of $6.495 billion and a P/E ratio of 65.50.
Frontier Communications Corp (NYSE:FTR) last announced its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Frontier Communications Corp will post $0.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Wednesday, September 10th.
A number of other firms have also recently commented on FTR. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Frontier Communications Corp in a research note on Wednesday. They now have a $4.50 price target on the stock, up previously from $3.50. Separately, analysts at Nomura downgraded shares of Frontier Communications Corp from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $7.50 price target on the stock, up previously from $6.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Frontier Communications Corp in a research note on Friday, June 27th. They now have a $6.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.73.
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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