Shares of Frontier Communications Corporation (NASDAQ:FTR) gapped up before the market opened on Tuesday . The stock had previously closed at $6.63, but opened at $6.77. Frontier Communications Corporation shares last traded at $6.96, with a volume of 3416600 shares trading hands.

FTR has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $25.00 price objective (down previously from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Vetr cut Frontier Communications Corporation from a “strong-buy” rating to a “buy” rating and set a $13.35 price objective for the company. in a research report on Tuesday, October 31st. Morgan Stanley reduced their price objective on Frontier Communications Corporation to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. BidaskClub raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $16.00 price objective on shares of Frontier Communications Corporation in a research report on Sunday, September 17th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $10.04.

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications Corporation (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company posted ($0.64) earnings per share. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. equities analysts forecast that Frontier Communications Corporation will post -4.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 annualized dividend and a yield of 36.04%. Frontier Communications Corporation’s dividend payout ratio is -17.38%.

A number of institutional investors and hedge funds have recently modified their holdings of FTR. Thrivent Financial For Lutherans increased its stake in Frontier Communications Corporation by 433.2% during the first quarter. Thrivent Financial For Lutherans now owns 221,321 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 179,812 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Frontier Communications Corporation by 259.9% in the 1st quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 103,170 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Frontier Communications Corporation by 40.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 216,100 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 62,597 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Frontier Communications Corporation by 11.1% in the 1st quarter. Nuveen Asset Management LLC now owns 351,714 shares of the utilities provider’s stock valued at $753,000 after purchasing an additional 35,198 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Frontier Communications Corporation by 19.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 215,236 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 35,044 shares during the period.

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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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