Frontier Communications Corp (FTR) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.01 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $-0.06. The company posted revenue of $1355.00 million in the period, 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.
Many Wall Street Analysts have commented on Frontier Communications Corp. Company shares were Reiterated by Deutsche Bank on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 6 from a previous price target of $5.50 .Frontier Communications Corp was Downgraded by Citigroup to ” Sell” on Mar 9, 2016. Deutsche Bank Initiated Frontier Communications Corp on Feb 24, 2016 to “Buy”, Price Target of the shares are set at $5.50.
Frontier Communications Corp closed down -0.12 points or -2.16% at $5.44 with 4,10,93,620 shares getting traded on Monday. Post opening the session at $5.57, the shares hit an intraday low of $5.38 and an intraday high of $5.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.