Frontier Communications Corp (FTR) Short Interest Update
Frontier Communications Corp (NASDAQ:FTR) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 270,497,137 shares, a growth of 5.6% from the April 28th total of 256,175,577 shares. Currently, 23.2% of the shares of the company are sold short. Based on an average daily volume of 56,959,476 shares, the short-interest ratio is currently 4.7 days.
Shares of Frontier Communications Corp (NASDAQ:FTR) opened at 1.36 on Friday. The stock’s market cap is $1.60 billion. The stock’s 50 day moving average is $1.68 and its 200-day moving average is $2.79. Frontier Communications Corp has a 1-year low of $1.18 and a 1-year high of $5.30.
Frontier Communications Corp (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corp had a negative net margin of 5.01% and a positive return on equity of 2.05%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.34 billion. On average, analysts predict that Frontier Communications Corp will post ($0.25) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 11.76%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corp’s dividend payout ratio (DPR) is -77.78%.
A number of research analysts recently issued reports on FTR shares. Jefferies Group LLC restated a “buy” rating and set a $5.00 target price on shares of Frontier Communications Corp in a research report on Friday, February 17th. Vetr downgraded shares of Frontier Communications Corp from a “strong-buy” rating to a “buy” rating and set a $2.09 target price for the company. in a research report on Thursday, March 23rd. UBS Group AG restated a “buy” rating on shares of Frontier Communications Corp in a research report on Thursday, May 4th. TheStreet downgraded shares of Frontier Communications Corp from a “c-” rating to a “d+” rating in a research report on Monday, February 27th. Finally, Morgan Stanley boosted their target price on shares of Frontier Communications Corp from $2.30 to $4.20 and gave the company an “equal weight” rating in a research report on Thursday, March 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.46.
Several hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Frontier Communications Corp by 40.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 216,100 shares of the utilities provider’s stock valued at $462,000 after buying an additional 62,597 shares during the period. City Financial Investment Co Ltd bought a new stake in shares of Frontier Communications Corp during the first quarter valued at approximately $3,638,000. Green Square Capital LLC boosted its stake in shares of Frontier Communications Corp by 64.1% in the first quarter. Green Square Capital LLC now owns 1,561,726 shares of the utilities provider’s stock valued at $3,342,000 after buying an additional 609,775 shares during the period. Fore Research & Management LP bought a new stake in shares of Frontier Communications Corp during the first quarter valued at approximately $342,000. Finally, Tudor Investment Corp ET AL boosted its stake in shares of Frontier Communications Corp by 259.9% in the first quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock valued at $306,000 after buying an additional 103,170 shares during the period. Hedge funds and other institutional investors own 67.26% of the company’s stock.
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Frontier Communications Corp Company Profile
Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).
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