Frontier Communications Corporation (FTR) Shares Bought by SG Americas Securities LLC
SG Americas Securities LLC lifted its holdings in shares of Frontier Communications Corporation (NASDAQ:FTR) by 109.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,288 shares of the utilities provider’s stock after buying an additional 357,493 shares during the quarter. SG Americas Securities LLC’s holdings in Frontier Communications were worth $381,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shelton Capital Management acquired a new position in Frontier Communications in the 2nd quarter valued at $111,000. GSA Capital Partners LLP acquired a new position in Frontier Communications in the 2nd quarter valued at $113,000. World Asset Management Inc raised its stake in Frontier Communications by 14.5% in the 2nd quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 13,158 shares during the last quarter. Quantbot Technologies LP acquired a new position in Frontier Communications in the 3rd quarter valued at $124,000. Finally, MML Investors Services LLC raised its stake in Frontier Communications by 204.3% in the 2nd quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 79,473 shares during the last quarter. 67.62% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. BidaskClub upgraded Frontier Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada restated a “hold” rating and issued a $16.00 target price on shares of Frontier Communications in a report on Sunday, September 17th. Deutsche Bank dropped their target price on Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Cowen restated a “hold” rating and issued a $14.00 target price on shares of Frontier Communications in a report on Thursday, October 19th. Finally, Morgan Stanley dropped their target price on Frontier Communications to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.46.
Frontier Communications (NASDAQ:FTR) last announced its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business posted ($0.64) EPS. Frontier Communications’s revenue for the quarter was down 10.8% on a year-over-year basis. analysts predict that Frontier Communications Corporation will post -4.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 27.62%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications’s dividend payout ratio (DPR) is -17.38%.
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Frontier Communications 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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