Wall Street analysts forecast that Frontier Communications Corp (NASDAQ:FTR) will post $2.31 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Frontier Communications Corp’s earnings, with estimates ranging from $2.3 billion to $2.32 billion. Frontier Communications Corp reported sales of $2.61 billion during the same quarter last year, which would suggest a negative year over year growth rate of 11.5%. The firm is expected to issue its next earnings report on Monday, August 7th.

On average, analysts expect that Frontier Communications Corp will report full year sales of $2.31 billion for the current year, with estimates ranging from $9.1 billion to $9.21 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.74 billion per share, with estimates ranging from $8.5 billion to $8.93 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Frontier Communications Corp.

Frontier Communications Corp (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corp had a positive return on equity of 2.05% and a negative net margin of 5.01%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.34 billion.

Several equities research analysts recently weighed in on the stock. Vetr upgraded shares of Frontier Communications Corp from a “buy” rating to a “strong-buy” rating and set a $3.09 price objective on the stock in a research note on Monday, March 27th. Jefferies Group LLC reiterated a “buy” rating and set a $4.00 price objective (up previously from $3.50) on shares of Frontier Communications Corp in a research note on Friday, April 28th. Deutsche Bank AG reiterated a “hold” rating and set a $2.00 price objective (down previously from $3.00) on shares of Frontier Communications Corp in a research note on Wednesday, May 3rd. Citigroup Inc upgraded shares of Frontier Communications Corp from a “sell” rating to a “neutral” rating and set a $1.75 price objective on the stock in a research note on Wednesday, May 3rd. Finally, Cowen and Company lowered shares of Frontier Communications Corp from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $4.00 to $2.00 in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Frontier Communications Corp has an average rating of “Hold” and a consensus price target of $3.46.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtus Investment Advisers Inc. bought a new position in Frontier Communications Corp during the third quarter valued at about $204,000. UBS Oconnor LLC boosted its position in Frontier Communications Corp by 2,550.5% in the third quarter. UBS Oconnor LLC now owns 3,387,364 shares of the utilities provider’s stock valued at $14,091,000 after buying an additional 3,259,564 shares during the period. HighTower Advisors LLC boosted its position in Frontier Communications Corp by 7.2% in the third quarter. HighTower Advisors LLC now owns 158,835 shares of the utilities provider’s stock valued at $633,000 after buying an additional 10,729 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Frontier Communications Corp by 1.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,712,821 shares of the utilities provider’s stock valued at $7,125,000 after buying an additional 31,000 shares during the period. Finally, Dynamic Capital Management Ltd boosted its position in Frontier Communications Corp by 69.7% in the third quarter. Dynamic Capital Management Ltd now owns 814,862 shares of the utilities provider’s stock valued at $3,390,000 after buying an additional 334,675 shares during the period. Institutional investors and hedge funds own 67.26% of the company’s stock.

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Frontier Communications Corp (NASDAQ:FTR) opened at 1.33 on Friday. Frontier Communications Corp has a 12-month low of $1.18 and a 12-month high of $5.30. The stock’s market cap is $1.57 billion. The company’s 50 day moving average price is $1.67 and its 200-day moving average price is $2.78.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 12.03%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corp’s dividend payout ratio (DPR) is presently -77.78%.

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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