Frontier Communications Corporation (NASDAQ:FTR) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research firms also recently commented on FTR. Hilliard Lyons downgraded Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and issued a $25.00 price objective (down previously from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of Frontier Communications Corporation in a report on Tuesday, August 8th. UBS AG restated a “neutral” rating and issued a $15.00 price objective on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Finally, Cowen and Company restated a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $7.14.

Shares of Frontier Communications Corporation (NASDAQ FTR) opened at 13.12 on Friday. Frontier Communications Corporation has a 1-year low of $11.65 and a 1-year high of $66.00. The stock’s market capitalization is $1.03 billion. The firm’s 50-day moving average is $14.09 and its 200 day moving average is $22.01.

Frontier Communications Corporation (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.03). Frontier Communications Corporation had a negative return on equity of 1.28% and a negative net margin of 9.35%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company posted ($0.29) EPS. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts expect that Frontier Communications Corporation will post ($4.13) EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in FTR. BlackRock Inc. grew its stake in shares of Frontier Communications Corporation by 4,683.4% in the first quarter. BlackRock Inc. now owns 116,003,627 shares of the utilities provider’s stock worth $248,246,000 after acquiring an additional 113,578,500 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Frontier Communications Corporation by 101.4% in the second quarter. First Trust Advisors LP now owns 42,741,996 shares of the utilities provider’s stock worth $49,581,000 after acquiring an additional 21,522,621 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of Frontier Communications Corporation by 340.9% in the second quarter. Gotham Asset Management LLC now owns 19,776,306 shares of the utilities provider’s stock worth $22,941,000 after acquiring an additional 15,290,477 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Frontier Communications Corporation by 9.9% in the second quarter. Vanguard Group Inc. now owns 116,799,968 shares of the utilities provider’s stock worth $135,488,000 after acquiring an additional 10,474,703 shares during the last quarter. Finally, Coatue Management LLC acquired a new stake in shares of Frontier Communications Corporation in the second quarter worth $8,223,000.

About Frontier Communications Corporation

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 Corporation (NASDAQ:FTR)

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