Frontier Communications Corporation (FTR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Frontier Communications Corporation (NASDAQ:FTR) by 93.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 126,770 shares of the utilities provider’s stock after selling 1,774,790 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Frontier Communications Corporation worth $1,495,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FTR. Thrivent Financial For Lutherans boosted its position in Frontier Communications Corporation by 433.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 221,321 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 179,812 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Frontier Communications Corporation by 84.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 1,093,139 shares of the utilities provider’s stock worth $2,339,000 after acquiring an additional 500,293 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Frontier Communications Corporation by 259.9% during the 1st quarter. Tudor Investment Corp ET AL now owns 142,872 shares of the utilities provider’s stock worth $306,000 after acquiring an additional 103,170 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Frontier Communications Corporation by 40.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 216,100 shares of the utilities provider’s stock worth $462,000 after purchasing an additional 62,597 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Frontier Communications Corporation by 11.1% during the 1st quarter. Nuveen Asset Management LLC now owns 351,714 shares of the utilities provider’s stock worth $753,000 after purchasing an additional 35,198 shares in the last quarter.

Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at $6.77 on Monday. Frontier Communications Corporation has a 1-year low of $6.72 and a 1-year high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 35.45%. The ex-dividend date is Thursday, December 14th. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -17.38%.

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A number of equities research analysts have recently issued reports on the company. Hilliard Lyons cut Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 9th. UBS AG reiterated a “neutral” rating and set a $15.00 price objective on shares of Frontier Communications Corporation in a research note on Wednesday, August 2nd. Gabelli cut Frontier Communications Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley dropped their price objective on Frontier Communications Corporation to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. Finally, BidaskClub cut Frontier Communications Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 16th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $9.93.

Frontier Communications Corporation 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).

Institutional Ownership by Quarter for Frontier Communications Corporation (NASDAQ:FTR)

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