Parametric Portfolio Associates LLC Reduced Holding in Frontier Communications Corp (FTR)

Parametric Portfolio Associates LLC Reduced Holding in Frontier Communications Corp (FTR)

Parametric Portfolio Associates LLC decreased its stake in Frontier Communications Corp (NASDAQ:FTR) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,913,703 shares of the utilities provider’s stock after selling 357,478 shares during the period. Parametric Portfolio Associates LLC’s holdings in Frontier Communications Corp were worth $10,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Republic Investment Management Inc. increased its stake in Frontier Communications Corp by 9.8% in the fourth quarter. First Republic Investment Management Inc. now owns 29,657 shares of the utilities provider’s stock valued at $101,000 after buying an additional 2,652 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Frontier Communications Corp during the fourth quarter valued at $104,000. Sigma Planning Corp increased its stake in Frontier Communications Corp by 0.8% in the first quarter. Sigma Planning Corp now owns 48,578 shares of the utilities provider’s stock valued at $104,000 after buying an additional 362 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Frontier Communications Corp by 47.3% in the first quarter. Eqis Capital Management Inc. now owns 57,967 shares of the utilities provider’s stock valued at $124,000 after buying an additional 18,615 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Frontier Communications Corp during the fourth quarter valued at $128,000. Hedge funds and other institutional investors own 67.26% of the company’s stock.

Shares of Frontier Communications Corp (NASDAQ:FTR) opened at 1.30 on Monday. Frontier Communications Corp has a one year low of $1.18 and a one year high of $5.30. The stock’s market capitalization is $1.53 billion. The company’s 50-day moving average is $1.56 and its 200-day moving average is $2.72.

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 analysts’ consensus estimates of ($0.05) by $0.03. Frontier Communications Corp had a negative net margin of 5.01% and a positive return on equity of 2.05%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. On average, equities research analysts anticipate 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. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.16 dividend on an annualized basis and a yield of 12.31%. Frontier Communications Corp’s dividend payout ratio (DPR) is -77.78%.

Several analysts have weighed in on FTR shares. Jefferies Group LLC reissued a “buy” rating and set a $5.00 target price on shares of Frontier Communications Corp in a research report on Friday, February 17th. JPMorgan Chase & Co. downgraded shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $2.96 to $2.51 in a research report on Tuesday, February 28th. Morgan Stanley downgraded shares of Frontier Communications Corp from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 28th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Frontier Communications Corp in a report on Tuesday, February 28th. Finally, TheStreet downgraded shares of Frontier Communications Corp from a “c-” rating to a “d+” rating in a report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FTR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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