Frontier Communications Corporation (FTR) Releases Earnings Results, Beats Estimates By $0.01 EPS
Frontier Communications Corporation (NASDAQ:FTR) issued its earnings results on Tuesday. The utilities provider reported ($0.94) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.01, Bloomberg Earnings reports. Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned ($0.64) earnings per share. Frontier Communications Corporation’s revenue for the quarter was down 10.8% on a year-over-year basis.
Frontier Communications Corporation (NASDAQ FTR) traded up 1.94% during midday trading on Tuesday, hitting $12.11. 3,878,652 shares of the stock traded hands. Frontier Communications Corporation has a 52-week low of $11.16 and a 52-week high of $61.05. The stock has a 50-day moving average of $12.15 and a 200 day moving average of $16.67. The firm’s market cap is $950.83 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 19.82%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -16.65%.
A number of equities analysts recently weighed in on FTR shares. Zacks Investment Research lowered shares of Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. BidaskClub upgraded shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine lowered shares of Frontier Communications Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Morgan Stanley dropped their target price on shares of Frontier Communications Corporation to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. Finally, Hilliard Lyons lowered shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.94.
Frontier Communications Corporation 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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