Zacks: Brokerages Anticipate Frontier Communications Corp (NASDAQ:FTR) Will Announce Earnings of -$0.47 Per Share

Analysts forecast that Frontier Communications Corp (NASDAQ:FTR) will announce earnings per share (EPS) of ($0.47) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Frontier Communications’ earnings, with estimates ranging from ($0.60) to ($0.34). Frontier Communications posted earnings of ($0.07) per share during the same quarter last year, which suggests a negative year over year growth rate of 571.4%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, November 5th.

According to Zacks, analysts expect that Frontier Communications will report full year earnings of ($52.44) per share for the current financial year, with EPS estimates ranging from ($53.33) to ($51.54). For the next financial year, analysts forecast that the firm will post earnings of ($0.19) per share, with EPS estimates ranging from ($1.05) to $0.95. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Frontier Communications.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $1.26. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. Frontier Communications had a positive return on equity of 21.42% and a negative net margin of 71.86%. Frontier Communications’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.92) EPS.

FTR has been the subject of several research reports. ValuEngine raised Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada set a $1.00 target price on Frontier Communications and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Guggenheim set a $1.00 target price on Frontier Communications and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, Cowen set a $2.00 target price on Frontier Communications and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.25.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Frontier Communications by 4.2% during the 2nd quarter. BlackRock Inc. now owns 16,705,266 shares of the utilities provider’s stock valued at $29,234,000 after buying an additional 673,480 shares in the last quarter. Morgan Stanley increased its position in Frontier Communications by 147.0% during the 2nd quarter. Morgan Stanley now owns 4,273,345 shares of the utilities provider’s stock valued at $7,479,000 after buying an additional 2,543,420 shares in the last quarter. Invesco Ltd. increased its position in Frontier Communications by 288.4% during the 2nd quarter. Invesco Ltd. now owns 3,623,984 shares of the utilities provider’s stock valued at $6,342,000 after buying an additional 2,690,886 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Frontier Communications by 33.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,933,234 shares of the utilities provider’s stock valued at $5,134,000 after buying an additional 741,960 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Frontier Communications by 6.5% during the 2nd quarter. Northern Trust Corp now owns 1,539,480 shares of the utilities provider’s stock valued at $2,694,000 after purchasing an additional 93,524 shares during the last quarter. 71.81% of the stock is owned by institutional investors.

FTR remained flat at $$1.02 during midday trading on Monday. The company’s stock had a trading volume of 958,352 shares, compared to its average volume of 3,207,067. The firm has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $1.50. The company has a market cap of $107.48 million, a PE ratio of -0.76 and a beta of 1.58. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 10.77. Frontier Communications has a fifty-two week low of $0.67 and a fifty-two week high of $5.61.

Frontier Communications Company Profile

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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