Frontier Communications (NASDAQ:FTR) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

FTR has been the topic of several other research reports. Deutsche Bank reduced their target price on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, October 10th. Cowen restated a “hold” rating and set a $14.00 target price on shares of Frontier Communications in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a report on Friday, November 10th. Finally, ValuEngine downgraded shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.30.

Frontier Communications (NASDAQ FTR) opened at $6.98 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16. The firm has a market cap of $537.62, a price-to-earnings ratio of -0.51 and a beta of 0.52. Frontier Communications has a 1-year low of $6.08 and a 1-year high of $57.30.

Frontier Communications (NASDAQ:FTR) last posted its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $0.01. The business had revenue of $2.25 billion for 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 business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.64) EPS. research analysts forecast that Frontier Communications will post -4.17 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FTR. Gotham Asset Management LLC increased its position in shares of Frontier Communications by 340.9% in the 2nd quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock worth $22,941,000 after purchasing an additional 15,290,477 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Frontier Communications by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after purchasing an additional 10,474,703 shares during the last quarter. Coatue Management LLC bought a new stake in shares of Frontier Communications in the 2nd quarter worth about $8,223,000. Quantitative Investment Management LLC increased its position in shares of Frontier Communications by 549.6% in the 2nd quarter. Quantitative Investment Management LLC now owns 8,279,600 shares of the utilities provider’s stock worth $9,604,000 after purchasing an additional 7,005,100 shares during the last quarter. Finally, State Street Corp increased its position in shares of Frontier Communications by 14.9% in the 2nd quarter. State Street Corp now owns 49,574,081 shares of the utilities provider’s stock worth $57,507,000 after purchasing an additional 6,445,036 shares during the last quarter. 62.89% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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