Goldman Sachs Begins Coverage on Frontier Communications Corp (FTR)
Equities research analysts at Goldman Sachs assumed coverage on shares of Frontier Communications Corp (NYSE:FTR) in a research note issued to investors on Tuesday. The firm set a “neutral” rating on the stock.
Shares of Frontier Communications Corp (NYSE:FTR) traded up 0.15% during mid-day trading on Tuesday, hitting $6.80. The stock had a trading volume of 1,819,531 shares. Frontier Communications Corp has a one year low of $4.09 and a one year high of $7.24. The stock has a 50-day moving average of $6.33 and a 200-day moving average of $5.72. The company has a market cap of $6.814 billion and a price-to-earnings ratio of 38.15.
Frontier Communications Corp (NYSE:FTR) last announced its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.05. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company posted $0.06 earnings per share. Frontier Communications Corp’s revenue was down 3.6% 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 Tuesday, September 30th. Investors of record on Friday, September 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Wednesday, September 10th.
A number of other analysts have also recently weighed in on FTR. Analysts at Macquarie raised their price target on shares of Frontier Communications Corp from $4.60 to $5.10 in a research note on Thursday, July 31st. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Frontier Communications Corp in a research note on Wednesday, July 30th. They now have a $4.50 price target on the stock, up previously from $3.50. Finally, analysts at Nomura downgraded shares of Frontier Communications Corp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $7.50 price target on the stock, up previously from $6.00. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Frontier Communications Corp has a consensus rating of “Hold” and an average target price of $5.69.
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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