Barclays Initiates Coverage on Frontier Communications (FTR)

Stock analysts at Barclays assumed coverage on shares of Frontier Communications (NASDAQ:FTR) in a research note issued on Friday, MarketBeat.com reports. The firm set an “underweight” rating and a $7.00 price target on the utilities provider’s stock. Barclays’ price objective suggests a potential downside of 13.37% from the company’s current price.

A number of other brokerages have also recently commented on FTR. Royal Bank of Canada reiterated a “sector perform” rating and set a $8.00 target price (down previously from $16.00) on shares of Frontier Communications in a report on Monday, November 20th. BidaskClub cut Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Zacks Investment Research cut Frontier Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Wells Fargo & Company reiterated a “market perform” rating and set a $9.00 target price (down previously from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Finally, Vetr cut Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 target price on the stock. in a report on Tuesday, October 31st. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.30.

Frontier Communications (NASDAQ:FTR) traded down $0.61 during midday trading on Friday, reaching $8.08. The company had a trading volume of 10,251,633 shares, compared to its average volume of 3,028,587. Frontier Communications has a 12-month low of $6.08 and a 12-month high of $57.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.01. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the business posted ($0.64) EPS. Frontier Communications’s quarterly revenue was down 10.8% on a year-over-year basis. equities research analysts expect that Frontier Communications will post -4.17 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Shelton Capital Management purchased a new position in shares of Frontier Communications in the 2nd quarter worth $111,000. GSA Capital Partners LLP purchased a new position in shares of Frontier Communications in the 2nd quarter worth $113,000. World Asset Management Inc raised its position in shares of Frontier Communications by 14.5% in the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock worth $121,000 after buying an additional 13,158 shares during the period. Quantbot Technologies LP purchased a new position in shares of Frontier Communications in the 3rd quarter worth $124,000. Finally, MML Investors Services LLC raised its position in shares of Frontier Communications by 204.3% in the 2nd quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock worth $137,000 after buying an additional 79,473 shares during the period. Institutional investors and hedge funds own 67.62% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.americanbankingnews.com/2017/12/15/barclays-initiates-coverage-on-frontier-communications-ftr.html.

About Frontier Communications

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).

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

Receive News & Ratings for Frontier Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply