Equities research analysts expect that Frontier Communications (NASDAQ:FTR) will announce $2.17 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Frontier Communications’ earnings, with the highest sales estimate coming in at $2.18 billion and the lowest estimate coming in at $2.16 billion. Frontier Communications posted sales of $2.30 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.7%. The company is scheduled to issue its next earnings results on Tuesday, August 7th.
On average, analysts expect that Frontier Communications will report full-year sales of $8.60 billion for the current year, with estimates ranging from $8.49 billion to $8.64 billion. For the next year, analysts anticipate that the business will post sales of $8.26 billion per share, with estimates ranging from $8.21 billion to $8.33 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Frontier Communications.
Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings results on Tuesday, May 1st. The utilities provider reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.25. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Frontier Communications had a negative return on equity of 3.06% and a negative net margin of 19.05%. Frontier Communications’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned ($0.11) EPS.
FTR has been the topic of a number of research analyst reports. BidaskClub upgraded Frontier Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 12th. Barclays restated a “sell” rating on shares of Frontier Communications in a research report on Thursday, May 3rd. Guggenheim started coverage on Frontier Communications in a research report on Tuesday, March 13th. They set a “sell” rating and a $6.00 price objective on the stock. Vetr upgraded Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 price objective on the stock in a research report on Wednesday, February 21st. Finally, Morgan Stanley decreased their price objective on Frontier Communications from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, March 19th. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.73.
A number of large investors have recently made changes to their positions in FTR. Bank of New York Mellon Corp grew its stake in shares of Frontier Communications by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,763,908 shares of the utilities provider’s stock worth $18,684,000 after purchasing an additional 708,309 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Frontier Communications in the fourth quarter worth $3,817,000. Envestnet Asset Management Inc. raised its stake in shares of Frontier Communications by 60,062.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 487,917 shares of the utilities provider’s stock worth $3,298,000 after purchasing an additional 487,106 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Frontier Communications in the fourth quarter worth $2,415,000. Finally, Virtu Financial LLC purchased a new position in shares of Frontier Communications in the fourth quarter worth $2,393,000. 65.76% of the stock is currently owned by institutional investors.
Shares of Frontier Communications traded up $0.20, reaching $9.47, on Friday, Marketbeat reports. The company’s stock had a trading volume of 1,173,960 shares, compared to its average volume of 3,200,356. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 6.87. Frontier Communications has a 52 week low of $6.08 and a 52 week high of $23.10. The firm has a market cap of $742.88 million, a price-to-earnings ratio of -2.50 and a beta of 0.63.
Frontier Communications Company Profile
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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