Global X Management Co. LLC Purchases 2,125 Shares of Frontier Communications Corp. (FTR)
Global X Management Co. LLC increased its position in Frontier Communications Corp. (NASDAQ:FTR) by 0.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,569,581 shares of the company’s stock after buying an additional 2,125 shares during the period. Global X Management Co. LLC’s holdings in Frontier Communications Corp. were worth $6,529,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Frontier Communications Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 113,217,359 shares of the company’s stock worth $559,294,000 after buying an additional 4,580,840 shares during the period. FMR LLC boosted its stake in Frontier Communications Corp. by 11.9% in the second quarter. FMR LLC now owns 33,237,126 shares of the company’s stock worth $164,192,000 after buying an additional 3,526,930 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Frontier Communications Corp. by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 32,695,065 shares of the company’s stock worth $161,514,000 after buying an additional 262,435 shares during the period. Dimensional Fund Advisors LP boosted its stake in Frontier Communications Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,978,633 shares of the company’s stock worth $148,084,000 after buying an additional 3,606,058 shares during the period. Finally, CI Investments Inc. boosted its stake in Frontier Communications Corp. by 2.0% in the second quarter. CI Investments Inc. now owns 25,798,955 shares of the company’s stock worth $127,447,000 after buying an additional 505,300 shares during the period. Institutional investors own 66.46% of the company’s stock.
Shares of Frontier Communications Corp. (NASDAQ:FTR) traded down 1.738% during mid-day trading on Tuesday, hitting $3.675. The company had a trading volume of 11,115,169 shares. Frontier Communications Corp. has a one year low of $3.10 and a one year high of $5.85. The company’s 50-day moving average is $3.70 and its 200 day moving average is $4.54. The company’s market capitalization is $4.31 billion.
Frontier Communications Corp. (NASDAQ:FTR) last issued its earnings results on Tuesday, November 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Frontier Communications Corp. had a positive return on equity of 2.05% and a negative net margin of 5.01%. The business’s revenue was up 77.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts forecast that Frontier Communications Corp. will post ($0.10) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 11.21%. The ex-dividend date of this dividend is Tuesday, December 13th. Frontier Communications Corp.’s dividend payout ratio (DPR) is presently -77.78%.
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A number of research firms recently weighed in on FTR. Citigroup Inc. dropped their price target on Frontier Communications Corp. from $4.00 to $3.50 and set a “sell” rating on the stock in a research note on Friday, September 16th. Zacks Investment Research lowered Frontier Communications Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Gabelli reaffirmed a “buy” rating on shares of Frontier Communications Corp. in a report on Tuesday, November 8th. Jefferies Group decreased their price objective on Frontier Communications Corp. from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Finally, Raymond James Financial Inc. decreased their price objective on Frontier Communications Corp. from $6.00 to $5.50 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $5.54.
Frontier Communications Corp. Company Profile
Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.
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