Frontier Communications Corporation (FTR) to Issue Quarterly Dividend of $0.60 on September 29th
Frontier Communications Corporation (NASDAQ:FTR) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Friday, September 15th will be paid a dividend of 0.60 per share by the utilities provider on Friday, September 29th. This represents a $2.40 annualized dividend and a yield of 17.44%. The ex-dividend date is Thursday, September 14th. This is an increase from Frontier Communications Corporation’s previous quarterly dividend of $0.04.
Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at 13.76 on Wednesday. The firm’s market capitalization is $1.08 billion. Frontier Communications Corporation has a 52 week low of $11.65 and a 52 week high of $68.40. The company’s 50-day moving average is $14.28 and its 200 day moving average is $22.66.
Frontier Communications Corporation (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.03). Frontier Communications Corporation had a negative net margin of 9.35% and a negative return on equity of 1.28%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned ($0.29) earnings per share. The company’s revenue was down 11.7% compared to the same quarter last year. Analysts anticipate that Frontier Communications Corporation will post ($4.13) EPS for the current fiscal year.
A number of brokerages have weighed in on FTR. Morgan Stanley dropped their target price on shares of Frontier Communications Corporation from $2.30 to $1.50 and set an “equal weight” rating on the stock in a report on Wednesday, June 14th. BidaskClub raised shares of Frontier Communications Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Frontier Communications Corporation from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Wednesday, July 5th. ValuEngine raised shares of Frontier Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Cowen and Company reissued a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Frontier Communications Corporation presently has an average rating of “Hold” and an average target price of $7.14.
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Frontier Communications Corporation 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).
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