Frontier Communications (NASDAQ:FTR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other research firms have also weighed in on FTR. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 price target (down from $16.00) on shares of Frontier Communications in a research report on Monday, November 20th. Zacks Investment Research lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Wells Fargo & Company reiterated a “market perform” rating and issued a $9.00 price target (down from $14.50) on shares of Frontier Communications in a research report on Thursday, November 2nd. Vetr lowered shares of Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $13.35 price target for the company. in a research report on Tuesday, October 31st. Finally, J P Morgan Chase & Co lowered shares of Frontier Communications from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $8.00 in a research report on Wednesday, November 1st. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.30.

Frontier Communications (FTR) traded down $0.61 on Tuesday, hitting $8.08. 10,252,460 shares of the company’s stock were exchanged, compared to its average volume of 4,990,000. Frontier Communications has a fifty-two week low of $6.08 and a fifty-two week high of $57.30. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70.

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

Several large investors have recently modified their holdings of FTR. Steward Partners Investment Advisory LLC purchased a new stake in Frontier Communications during the third quarter valued at $176,000. Engineers Gate Manager LP purchased a new stake in Frontier Communications during the third quarter valued at $138,000. Pinnacle Associates Ltd. purchased a new stake in Frontier Communications during the third quarter valued at $535,000. Virginia Retirement Systems ET AL purchased a new stake in Frontier Communications during the third quarter valued at $174,000. Finally, SG Americas Securities LLC raised its stake in Frontier Communications by 109.9% during the third quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 357,493 shares in the last quarter. Hedge funds and other institutional investors own 67.62% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Frontier Communications (FTR) Upgraded to “Buy” by BidaskClub” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/17/frontier-communications-ftr-upgraded-to-buy-by-bidaskclub.html.

Frontier Communications 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).

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.