Frontier Communications (FTR) Upgraded by Vetr to “Strong-Buy”

Frontier Communications (NASDAQ:FTR) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $9.22 target price on the utilities provider’s stock. Vetr‘s price target would suggest a potential upside of 13.97% from the company’s current price.

FTR has been the subject of several other reports. BidaskClub upgraded Frontier Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Tuesday, January 9th. Deutsche Bank reduced their target price on Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, October 10th. Cowen restated a “hold” rating and set a $14.00 target price on shares of Frontier Communications in a research report on Thursday, October 19th. Finally, Bank of America cut Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price for the company. in a research report on Friday, November 10th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $9.49.

Frontier Communications (FTR) traded down $0.44 during trading on Tuesday, reaching $8.09. The company had a trading volume of 2,551,859 shares, compared to its average volume of 3,790,000. Frontier Communications has a twelve month low of $6.08 and a twelve month high of $53.70. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $634.73, a PE ratio of -0.59 and a beta of 0.52.

Frontier Communications (NASDAQ:FTR) last posted its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business earned ($0.64) earnings per share. The firm’s revenue was down 10.8% on a year-over-year basis. equities research analysts predict that Frontier Communications will post -4.16 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Jennison Associates lifted its stake in shares of Frontier Communications by 1.6% in the 3rd quarter. Jennison Associates now owns 44,810,894 shares of the utilities provider’s stock valued at $212,852,000 after acquiring an additional 711,099 shares during the last quarter. Baker Avenue Asset Management lifted its stake in shares of Frontier Communications by 101.3% in the 3rd quarter. Baker Avenue Asset Management now owns 264,000 shares of the utilities provider’s stock valued at $1,254,000 after acquiring an additional 132,859 shares during the last quarter. Saba Capital Management lifted its stake in shares of Frontier Communications by 67.5% in the 3rd quarter. Saba Capital Management now owns 10,854,600 shares of the utilities provider’s stock valued at $51,559,000 after acquiring an additional 4,373,000 shares during the last quarter. Crow Point Partners lifted its stake in shares of Frontier Communications by 1,558.2% in the 3rd quarter. Crow Point Partners now owns 2,133,540 shares of the utilities provider’s stock valued at $10,134,000 after acquiring an additional 2,004,875 shares during the last quarter. Finally, Verde Servico Internacionais bought a new stake in shares of Frontier Communications in the 4th quarter valued at about $387,000. 62.87% of the stock is 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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Frontier Communications (NASDAQ:FTR)

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