$2.25 Billion in Sales Expected for Frontier Communications Corporation (FTR) This Quarter
Analysts predict that Frontier Communications Corporation (NASDAQ:FTR) will post $2.25 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Frontier Communications Corporation’s earnings, with estimates ranging from $2.25 billion to $2.27 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 10.7%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Frontier Communications Corporation will report full year sales of $2.25 billion for the current financial year, with estimates ranging from $9.11 billion to $9.17 billion. For the next financial year, analysts anticipate that the business will report sales of $8.65 billion per share, with estimates ranging from $8.49 billion to $8.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Frontier Communications Corporation.
Frontier Communications Corporation (NASDAQ:FTR) last issued its earnings results on Tuesday, August 1st. The utilities provider reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the company posted ($0.29) earnings per share.
Several research firms have issued reports on FTR. Cowen and Company restated a “hold” rating and issued a $14.00 price target on shares of Frontier Communications Corporation in a research report on Thursday. BidaskClub cut shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Deutsche Bank AG lowered their price target on shares of Frontier Communications Corporation from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Zacks Investment Research cut shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $16.00 price target on shares of Frontier Communications Corporation in a report on Sunday, September 17th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $8.94.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Frontier Communications Corporation by 9.9% during the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after buying an additional 10,474,703 shares during the last quarter. BlackRock Inc. grew its stake in Frontier Communications Corporation by 4,683.4% during the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock worth $248,246,000 after buying an additional 113,578,500 shares during the last quarter. State Street Corp grew its stake in Frontier Communications Corporation by 14.9% during the second quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after buying an additional 6,445,036 shares during the last quarter. First Trust Advisors LP grew its stake in Frontier Communications Corporation by 101.4% during the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock worth $49,581,000 after buying an additional 21,522,621 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Frontier Communications Corporation by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 25,636,186 shares of the utilities provider’s stock worth $29,738,000 after buying an additional 1,757,905 shares during the last quarter.
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Shares of Frontier Communications Corporation (NASDAQ:FTR) traded up 0.78% during trading on Friday, hitting $11.57. The stock had a trading volume of 1,126,889 shares. Frontier Communications Corporation has a one year low of $11.16 and a one year high of $63.90. The firm’s market cap is $908.43 million. The firm’s 50-day moving average is $12.46 and its 200-day moving average is $17.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.60 dividend. The ex-dividend date was Thursday, September 14th. This represents a $2.40 dividend on an annualized basis and a yield of 20.74%. This is a boost from Frontier Communications Corporation’s previous quarterly dividend of $0.04. 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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