$2.31 Billion in Sales Expected for Frontier Communications Corporation (FTR) This Quarter
Analysts expect Frontier Communications Corporation (NASDAQ:FTR) to announce $2.31 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Frontier Communications Corporation’s earnings, with estimates ranging from $2.30 billion to $2.32 billion. Frontier Communications Corporation reported sales of $2.61 billion during the same quarter last year, which indicates a negative year over year growth rate of 11.5%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that Frontier Communications Corporation will report full-year sales of $2.31 billion for the current financial year, with estimates ranging from $9.10 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 $8.50 billion to $8.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Frontier Communications Corporation.
Frontier Communications Corporation (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion. Frontier Communications Corporation had a positive return on equity of 0.19% and a negative net margin of 2.65%.
FTR has been the subject of several recent analyst reports. Citigroup Inc. lowered their price target on Frontier Communications Corporation from $2.25 to $1.75 and set a “sell” rating for the company in a report on Monday, March 20th. Morgan Stanley lifted their price target on Frontier Communications Corporation from $2.30 to $4.20 and gave the company an “equal weight” rating in a report on Thursday, March 30th. Macquarie restated a “hold” rating and issued a $2.65 price target on shares of Frontier Communications Corporation in a report on Thursday, April 13th. ValuEngine upgraded Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Frontier Communications Corporation has a consensus rating of “Hold” and an average target price of $3.95.
Several institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its stake in Frontier Communications Corporation by 1.7% in the fourth quarter. Comerica Bank now owns 301,680 shares of the utilities provider’s stock valued at $1,068,000 after buying an additional 4,949 shares in the last quarter. GSA Capital Partners LLP raised its stake in Frontier Communications Corporation by 115.3% in the fourth quarter. GSA Capital Partners LLP now owns 77,707 shares of the utilities provider’s stock valued at $263,000 after buying an additional 41,620 shares in the last quarter. First Republic Investment Management Inc. raised its stake in Frontier Communications Corporation by 9.8% in the fourth quarter. First Republic Investment Management Inc. now owns 29,657 shares of the utilities provider’s stock valued at $101,000 after buying an additional 2,652 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in Frontier Communications Corporation during the fourth quarter valued at about $134,000. Finally, Thrivent Financial for Lutherans raised its stake in Frontier Communications Corporation by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,509 shares of the utilities provider’s stock valued at $141,000 after buying an additional 2,570 shares in the last quarter. 62.88% of the stock is currently owned by institutional investors.
Frontier Communications Corporation (NASDAQ:FTR) opened at 14.77 on Friday. Frontier Communications Corporation has a 52-week low of $1.10 and a 52-week high of $15.14. The firm’s market capitalization is $1.16 billion. The firm’s 50-day moving average is $1.28 and its 200-day moving average is $2.41.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Tuesday, June 13th. Frontier Communications Corporation’s payout ratio is -38.11%.
About Frontier Communications Corporation
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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