Rational Advisors LLC purchased a new position in shares of Frontier Communications Corp (NASDAQ:FTR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 921,700 shares of the utilities provider’s stock, valued at approximately $1,972,000. Frontier Communications Corp accounts for approximately 1.3% of Rational Advisors LLC’s portfolio, making the stock its 16th largest position.
Other large investors have also recently added to or reduced their stakes in the company. Camelot Portfolios LLC increased its position in Frontier Communications Corp by 0.9% in the third quarter. Camelot Portfolios LLC now owns 602,238 shares of the utilities provider’s stock valued at $2,505,000 after buying an additional 5,258 shares in the last quarter. Visionary Asset Management Inc. increased its position in Frontier Communications Corp by 5.7% in the third quarter. Visionary Asset Management Inc. now owns 516,566 shares of the utilities provider’s stock valued at $2,149,000 after buying an additional 27,947 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in Frontier Communications Corp during the third quarter valued at approximately $291,000. TradeLink Capital LLC increased its position in Frontier Communications Corp by 35.6% in the third quarter. TradeLink Capital LLC now owns 46,352 shares of the utilities provider’s stock valued at $193,000 after buying an additional 12,174 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in Frontier Communications Corp by 37.3% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 2,790,359 shares of the utilities provider’s stock valued at $11,608,000 after buying an additional 757,496 shares in the last quarter. Institutional investors and hedge funds own 67.26% of the company’s stock.
Frontier Communications Corp (NASDAQ:FTR) traded up 12.31% during mid-day trading on Friday, hitting $1.46. The company had a trading volume of 50,840,006 shares. Frontier Communications Corp has a 1-year low of $1.18 and a 1-year high of $5.30. The stock’s market capitalization is $1.72 billion. The stock has a 50 day moving average price of $1.76 and a 200-day moving average price of $2.85.
Frontier Communications Corp (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.03. Frontier Communications Corp had a positive return on equity of 2.05% and a negative net margin of 5.01%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. On average, analysts forecast that Frontier Communications Corp will post ($0.25) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 12.31%. The ex-dividend date of this dividend is Tuesday, June 13th. Frontier Communications Corp’s dividend payout ratio (DPR) is currently -77.78%.
Several research analysts have recently commented on FTR shares. Citigroup Inc decreased their price objective on Frontier Communications Corp from $2.25 to $1.75 and set a “sell” rating on the stock in a report on Monday, March 20th. TheStreet downgraded Frontier Communications Corp from a “c-” rating to a “d+” rating in a report on Monday, February 27th. Zacks Investment Research upgraded Frontier Communications Corp from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 15th. Morgan Stanley lifted their price objective on Frontier Communications Corp from $2.30 to $4.20 and gave the stock an “equal weight” rating in a report on Thursday, March 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $3.50 price objective on shares of Frontier Communications Corp in a report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.46.
Frontier Communications Corp 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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