Analysts predict that FairPoint Communications Inc (NASDAQ:FRP) will post ($0.41) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for FairPoint Communications’ earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.38). FairPoint Communications posted earnings per share of $1.08 in the same quarter last year, which would indicate a negative year over year growth rate of 138%. The company is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that FairPoint Communications will report full-year earnings of ($1.94) per share for the current financial year, with EPS estimates ranging from ($2.03) to ($1.84). For the next fiscal year, analysts forecast that the business will report earnings of ($1.71) per share, with EPS estimates ranging from ($2.02) to ($1.40). Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover FairPoint Communications.
FairPoint Communications (NASDAQ:FRP) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by $0.11. The company earned $201.91 million during the quarter, compared to analysts’ expectations of $199.98 million. FairPoint Communications had a net margin of 15.70% and a negative return on equity of 627.47%.
Several research analysts have weighed in on FRP shares. Zacks Investment Research upgraded FairPoint Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, March 9th. Jefferies Group LLC cut their price target on FairPoint Communications from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, March 7th.
FairPoint Communications (NASDAQ:FRP) traded up 0.62% during midday trading on Monday, hitting $16.25. The stock had a trading volume of 147,174 shares. The firm has a market cap of $436.77 million, a P/E ratio of 4.23 and a beta of 0.32. The stock has a 50-day moving average price of $16.98 and a 200 day moving average price of $17.34. FairPoint Communications has a 12-month low of $12.81 and a 12-month high of $19.60.
Hedge funds have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its stake in shares of FairPoint Communications by 1.1% in the third quarter. BlackRock Advisors LLC now owns 46,586 shares of the technology company’s stock valued at $700,000 after buying an additional 529 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in shares of FairPoint Communications by 1.4% in the third quarter. Alambic Investment Management L.P. now owns 72,251 shares of the technology company’s stock valued at $1,086,000 after buying an additional 980 shares in the last quarter. Strs Ohio boosted its stake in shares of FairPoint Communications by 7.6% in the first quarter. Strs Ohio now owns 39,800 shares of the technology company’s stock valued at $660,000 after buying an additional 2,800 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of FairPoint Communications by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 210,942 shares of the technology company’s stock valued at $3,502,000 after buying an additional 3,385 shares in the last quarter. Finally, SECOR Capital Advisors LP boosted its stake in shares of FairPoint Communications by 9.3% in the third quarter. SECOR Capital Advisors LP now owns 81,470 shares of the technology company’s stock valued at $1,224,000 after buying an additional 6,923 shares in the last quarter. 92.22% of the stock is owned by institutional investors.
FairPoint Communications Company Profile
FairPoint Communications, Inc is a provider of data, voice and communications services to business, wholesale and residential customers within its service territories. The Company offers its customers a suite of services, such as Ethernet, Session Initiation Protocol Trunking (SIP-Trunking), hosted Primary Branch Exchange (hosted PBX), managed services, data center colocation services, high capacity data transport and other Internet protocol (IP)-based services over its fiber-based network.
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