Frontier Communications Corp. (NASDAQ:FTR)‘s stock had its “outperform” rating restated by analysts at Wells Fargo & Co. in a research note issued on Monday. They currently have a $8.75 price target on the stock. Wells Fargo & Co.’s price objective suggests a potential upside of 103.49% from the stock’s current price.

FTR has been the topic of several other reports. Citigroup Inc. lowered their target price on Frontier Communications Corp. from $4.00 to $3.50 and set a “sell” rating on the stock in a research report on Friday. Macquarie began coverage on Frontier Communications Corp. in a research report on Monday, July 11th. They issued an “underperform” rating and a $4.65 target price on the stock. Zacks Investment Research upgraded Frontier Communications Corp. from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Friday, July 8th. Morgan Stanley cut Frontier Communications Corp. from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $6.00 to $5.40 in a research report on Monday, July 18th. Finally, Raymond James Financial Inc. lowered their target price on Frontier Communications Corp. from $6.00 to $5.50 and set an “outperform” rating on the stock in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Frontier Communications Corp. presently has an average rating of “Buy” and an average target price of $5.95.

Analyst Recommendations for Frontier Communications Corp. (NASDAQ:FTR)

Shares of Frontier Communications Corp. (NASDAQ:FTR) opened at 4.30 on Monday. The stock has a 50 day moving average price of $4.69 and a 200 day moving average price of $5.09. Frontier Communications Corp. has a 12 month low of $3.81 and a 12 month high of $5.85. The stock’s market capitalization is $5.04 billion.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/19/frontier-communications-corp-s-ftr-buy-rating-reiterated-at-wells-fargo-co.html

Frontier Communications Corp. (NASDAQ:FTR) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The company earned $2.61 billion during the quarter, compared to the consensus estimate of $2.75 billion. Frontier Communications Corp. had a positive return on equity of 2.52% and a negative net margin of 4.85%. The company’s revenue for the quarter was up 90.6% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, analysts anticipate that Frontier Communications Corp. will post ($0.08) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.105 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.42 annualized dividend and a dividend yield of 9.77%. Frontier Communications Corp.’s dividend payout ratio (DPR) is presently -85.71%.

Hedge funds have recently modified their holdings of the company. Murphy Capital Management Inc. purchased a new stake in Frontier Communications Corp. during the second quarter worth about $106,000. NEXT Financial Group Inc boosted its stake in Frontier Communications Corp. by 23.2% in the second quarter. NEXT Financial Group Inc now owns 22,450 shares of the company’s stock worth $110,000 after buying an additional 4,233 shares during the last quarter. Bank of Nova Scotia boosted its stake in Frontier Communications Corp. by 6.2% in the second quarter. Bank of Nova Scotia now owns 23,138 shares of the company’s stock worth $114,000 after buying an additional 1,360 shares during the last quarter. Private Bank & Trust Co. purchased a new stake in Frontier Communications Corp. during the second quarter worth about $116,000. Finally, Bayesian Capital Management LP purchased a new stake in Frontier Communications Corp. during the first quarter worth about $117,000. 65.99% of the stock is owned by institutional investors and hedge funds.

About Frontier Communications Corp.

Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.

5 Day Chart for NASDAQ:FTR

Receive News & Ratings for Frontier Communications Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corp. and related companies with MarketBeat.com's FREE daily email newsletter.