Brokerages forecast that Frontier Communications Corporation (NASDAQ:FTR) will post sales of $2.26 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Frontier Communications Corporation’s earnings. The highest sales estimate is $2.27 billion and the lowest is $2.25 billion. Frontier Communications Corporation posted sales of $2.52 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 10.3%. The firm is scheduled to issue its next earnings report on Tuesday, November 7th.

On average, analysts expect that Frontier Communications Corporation will report full-year sales of $2.26 billion for the current financial year, with estimates ranging from $9.11 billion to $9.17 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.68 billion per share, with estimates ranging from $8.49 billion to $8.84 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Frontier Communications Corporation.

Frontier Communications Corporation (NASDAQ:FTR) last released its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by $0.03. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.31 billion. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS.

Several equities research analysts have recently commented on the company. UBS AG downgraded Frontier Communications Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $2.00 in a report on Wednesday, May 3rd. Cowen and Company downgraded Frontier Communications Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $4.00 to $2.00 in a report on Wednesday, May 3rd. Deutsche Bank AG restated a “hold” rating and set a $2.00 price objective (down previously from $3.00) on shares of Frontier Communications Corporation in a report on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and set a $4.00 price objective (up previously from $3.50) on shares of Frontier Communications Corporation in a report on Friday, April 28th. Finally, BidaskClub downgraded Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.21.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Frontier Communications Corporation by 4,683.4% in the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock valued at $248,246,000 after buying an additional 113,578,500 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Frontier Communications Corporation by 101.4% in the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock valued at $49,581,000 after buying an additional 21,522,621 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Frontier Communications Corporation by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock valued at $29,738,000 after buying an additional 1,757,905 shares during the last quarter. Morgan Stanley boosted its position in shares of Frontier Communications Corporation by 133.9% in the first quarter. Morgan Stanley now owns 10,376,683 shares of the utilities provider’s stock valued at $22,207,000 after buying an additional 5,941,074 shares during the last quarter. Finally, Hexavest Inc. boosted its position in shares of Frontier Communications Corporation by 4.4% in the first quarter. Hexavest Inc. now owns 8,355,403 shares of the utilities provider’s stock valued at $17,881,000 after buying an additional 351,596 shares during the last quarter.

Frontier Communications Corporation (NASDAQ:FTR) opened at 15.87 on Monday. The firm’s market cap is $1.23 billion. The firm’s 50-day moving average is $16.43 and its 200 day moving average is $30.01. Frontier Communications Corporation has a 1-year low of $13.13 and a 1-year high of $74.70.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.60 per share. This is a boost from Frontier Communications Corporation’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 14th. This represents a $2.40 annualized dividend and a dividend yield of 15.12%. Frontier Communications Corporation’s payout ratio is presently -16.65%.

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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