Frontier Communications Corp (NASDAQ:FTR) traded down 1.2% during trading on Thursday . The stock traded as low as $4.02 and last traded at $4.00. 137,180 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 3,193,051 shares. The stock had previously closed at $4.05.

Several equities research analysts have recently commented on the company. UBS Group lowered Frontier Communications from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $6.00 to $3.00 in a research note on Wednesday. BidaskClub lowered Frontier Communications from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. ValuEngine upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada restated a “hold” rating and issued a $6.00 price objective on shares of Frontier Communications in a research note on Friday, August 3rd. Finally, Zacks Investment Research lowered Frontier Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.94.

The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 8.44. The company has a market capitalization of $429.06 million, a PE ratio of -1.02 and a beta of 0.83.

Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings results on Tuesday, November 6th. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.13. Frontier Communications had a negative return on equity of 2.35% and a negative net margin of 16.69%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the business posted ($0.94) EPS. Frontier Communications’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that Frontier Communications Corp will post -1.63 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Frontier Communications by 32.8% during the third quarter. BlackRock Inc. now owns 16,286,094 shares of the utilities provider’s stock valued at $105,696,000 after purchasing an additional 4,021,298 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Frontier Communications by 30.6% during the third quarter. Bank of New York Mellon Corp now owns 1,572,919 shares of the utilities provider’s stock valued at $10,208,000 after purchasing an additional 368,710 shares in the last quarter. BlueMountain Capital Management LLC grew its position in shares of Frontier Communications by 1,781.9% during the second quarter. BlueMountain Capital Management LLC now owns 1,323,436 shares of the utilities provider’s stock valued at $7,094,000 after purchasing an additional 1,253,112 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Frontier Communications by 5.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,171,723 shares of the utilities provider’s stock valued at $6,281,000 after purchasing an additional 60,741 shares in the last quarter. Finally, Benefit Street Partners LLC grew its position in shares of Frontier Communications by 57.1% during the second quarter. Benefit Street Partners LLC now owns 1,130,230 shares of the utilities provider’s stock valued at $6,058,000 after purchasing an additional 410,679 shares in the last quarter. Institutional investors and hedge funds own 62.57% of the company’s stock.

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About Frontier Communications (NASDAQ:FTR)

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 broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

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