Frontier Communications Corp (FTR) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jul 18, 2016.
Many Wall Street Analysts have commented on Frontier Communications Corp. Frontier Communications Corp was Initiated by Macquarie to “Underperform” on Jul 11, 2016.
On the company’s financial health, Frontier Communications Corp reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $1355.00 million for the quarter, compared to analysts expectations of $1351.68 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.
Frontier Communications Corp opened for trading at $5.13 and hit $5.17 on the upside on Friday, eventually ending the session at $5.17, with a gain of 1.17% or 0.06 points. The heightened volatility saw the trading volume jump to 1,16,43,473 shares. Company has a market cap of $6,065 M.
In a different news, on Nov 12, 2015, Kathleen Weslock (EVP, Chief People Officer) purchased 12,370 shares at $4.81 per share price. According to the SEC, on Nov 12, 2015, Steve Gable (EVP, Chief Technology Officer) purchased 53,416 shares at $4.75 per share price. On Nov 12, 2015, Kathleen Q Abernathy (EVP, External Affairs) purchased 46,391 shares at $4.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Frontier Communications Corporation is a communications company. The Company is engaged in providing services to rural areas and small and medium-sized towns and cities in the United States. It 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. It conducts business with both residential and business customers and it provides the last mile of communications services to customers in these markets. The Company provides data and Internet services and wireless data services basic local and long distance voice wireline services to residential and business customers in its service areas network access to interexchange carriers for origination and termination of long distance voice and data traffic sales of its own and third party video services and sales of customer premise equipment.