Analysts expect FairPoint Communications Inc (NASDAQ:FRP) to post sales of $199.24 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for FairPoint Communications’ earnings, with estimates ranging from $199 million to $199.48 million. FairPoint Communications reported sales of $206.56 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 2nd.

According to Zacks, analysts expect that FairPoint Communications will report full-year sales of $199.24 million for the current financial year, with estimates ranging from $794.91 million to $799.2 million. For the next financial year, analysts forecast that the firm will report sales of $763.77 million per share, with estimates ranging from $753.74 million to $773.8 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover FairPoint Communications.

FairPoint Communications (NASDAQ:FRP) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by $0.11. FairPoint Communications had a negative return on equity of 627.47% and a net margin of 15.70%. The firm had revenue of $201.91 million for the quarter, compared to the consensus estimate of $199.98 million.

Several brokerages have recently issued reports on FRP. Zacks Investment Research lowered shares of FairPoint Communications from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Jefferies Group LLC decreased their price target on shares of FairPoint Communications from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, March 7th.

ILLEGAL ACTIVITY WARNING: “$199.24 Million in Sales Expected for FairPoint Communications Inc (FRP) This Quarter” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/05/26/199-24-million-in-sales-expected-for-fairpoint-communications-inc-frp-this-quarter.html.

Shares of FairPoint Communications (NASDAQ:FRP) traded down 0.880% during midday trading on Friday, hitting $14.075. The stock had a trading volume of 26,394 shares. The company has a market cap of $379.48 million, a price-to-earnings ratio of 6.152 and a beta of 0.32. The stock’s 50-day moving average price is $16.20 and its 200 day moving average price is $17.26. FairPoint Communications has a 52 week low of $12.81 and a 52 week high of $19.60.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC increased its position in FairPoint Communications by 1.1% in the third quarter. BlackRock Advisors LLC now owns 46,586 shares of the technology company’s stock valued at $700,000 after buying an additional 529 shares during the period. Akanthos Capital Management LLC acquired a new position in FairPoint Communications during the third quarter valued at approximately $1,127,000. Connor Clark & Lunn Investment Management Ltd. increased its position in FairPoint Communications by 31.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,215 shares of the technology company’s stock valued at $2,062,000 after buying an additional 32,615 shares during the period. Russell Investments Group Ltd. acquired a new position in FairPoint Communications during the fourth quarter valued at approximately $521,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in FairPoint Communications during the fourth quarter valued at approximately $221,000. 92.22% of the stock is owned by institutional investors.

About FairPoint Communications

FairPoint Communications, Inc is a provider of data, voice and communications services to business, wholesale and residential customers within its service territories. The Company offers its customers a suite of services, such as Ethernet, Session Initiation Protocol Trunking (SIP-Trunking), hosted Primary Branch Exchange (hosted PBX), managed services, data center colocation services, high capacity data transport and other Internet protocol (IP)-based services over its fiber-based network.

12 Month Chart for NASDAQ:FRP

Get a free copy of the Zacks research report on FairPoint Communications (FRP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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