Frontier Communications Corpora (NASDAQ:FTR).
On November 2 the company was rated “Hold” by Deutsche Bank which is down from the previous “Buy” rating. On October 11 Jefferies maintained a company rating of “Buy” but lowered the price expectation from $6.00 to $5.00.
On September 6 the company was upgraded from “Underperform” to “Neutral” in a report issued by Macquarie. On July 18 the stock rating was downgraded to “Underperform” from “Overweight” in a report from Morgan Stanley.
On July 11, 2016 Macquarie released its first research report on the stock by announcing an initial rating of “Underperform”.
The company is so far trading down from yesterday’s close of $13.88. Frontier Communications Corpora also recently announced a dividend that was paid on Friday the 30th of June 2017. The dividend was $0.600 per share for the quarter or $2.40 annualized. The dividend yield was $15.09. The ex-dividend date was Tuesday the 13th of June 2017.
Shares of the company are trading at $13.40 impressively higher than the 50 day moving average of $1.28 and which is just over the 200 day moving average of $2.41. The 50 day moving average was up by +953.83% whereas the 200 day average was up by +459.54%.
Frontier Communications Corporation (Frontier), launched on November 12, 1935, 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). The Company offers a range of broadband services. The principal residential service it provides is broadband Internet service. Its commercial services include Ethernet, Dedicated Internet, Multiprotocol Label Switching (MPLS), Time Division Multiplexing (TDM) data transport services and optical transport services. It also offers wireless broadband services (using unlicensed spectrum) in various markets utilizing networks that it owns or operates. In addition, the Company offers its Frontier Secure suite of products, including computer security, cloud backup and sharing, identity protection and equipment insurance..
As of the latest earnings report the EPS was $-6.17 and is expected to be $-0.25 for the current year with 78,537,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-1.02 with next year’s EPS anticipated to be $-1.55.
Investors are more bearish recently considering the uptick in short interest. The firm recorded a rise in short interest of 3.04% as of the latest report on May 15, 2017. Short shares grew from 270,497,137 to 278,726,881 over that period. Days to cover increased from 4.7 to 7.8 and the percentage of shorted shares is 3.55% as of May 15.