Frontier Communications (NASDAQ:FTR) Sees Strong Trading Volume

Shares of Frontier Communications Corp (NASDAQ:FTR) saw unusually-strong trading volume on Monday . Approximately 2,143,800 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 3,325,424 shares.The stock last traded at $1.02 and had previously closed at $0.89.

A number of equities analysts have weighed in on FTR shares. ValuEngine raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cowen set a $2.00 target price on shares of Frontier Communications and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada set a $1.00 target price on shares of Frontier Communications and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Citigroup boosted their target price on shares of Frontier Communications from $1.00 to $1.50 and gave the stock a “positive” rating in a research note on Thursday, June 20th. They noted that the move was a valuation call. Finally, Guggenheim set a $1.00 target price on shares of Frontier Communications and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Frontier Communications presently has an average rating of “Hold” and an average target price of $2.25.

The company has a debt-to-equity ratio of 10.77, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $94.05 million, a P/E ratio of -0.76 and a beta of 1.58. The stock’s 50 day simple moving average is $0.89 and its two-hundred day simple moving average is $1.58.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $1.26. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. Frontier Communications had a negative net margin of 71.86% and a positive return on equity of 21.42%. Frontier Communications’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.92) earnings per share. As a group, equities research analysts expect that Frontier Communications Corp will post -0.34 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marathon Trading Investment Management LLC bought a new stake in Frontier Communications in the first quarter valued at approximately $51,000. State of Alaska Department of Revenue increased its stake in Frontier Communications by 126.3% in the third quarter. State of Alaska Department of Revenue now owns 81,010 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 45,219 shares in the last quarter. United Services Automobile Association increased its stake in Frontier Communications by 29.1% in the second quarter. United Services Automobile Association now owns 62,774 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 14,131 shares in the last quarter. World Asset Management Inc increased its stake in Frontier Communications by 35.3% in the second quarter. World Asset Management Inc now owns 66,627 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 17,386 shares in the last quarter. Finally, Meridian Investment Counsel Inc. increased its stake in Frontier Communications by 35.4% in the second quarter. Meridian Investment Counsel Inc. now owns 92,745 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 24,271 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Frontier Communications Company Profile (NASDAQ:FTR)

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper-based networks to consumer customers. The company also provides Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises.

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