Central Bank Trust Co Exits Position in Frontier Communications Corp (FTR)

Frontier Communications Corp (FTR) : Central Bank Trust Co has sold out all of its stake in Frontier Communications Corp during the most recent quarter, according to the disclosure filed by the company on Oct 7, 2016 with the SEC. The investment management company has sold out 3,000 shares of Frontier Communications Corp which is valued at $12,690.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in FTR by selling 4,125 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 299,527 shares of FTR which is valued at $1,266,999. Frontier Communications Corp makes up approx 0.03% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FTR by selling 152,300 shares or 65.61% in the most recent quarter. The Hedge Fund company now holds 79,817 shares of FTR which is valued at $321,663.Washington Trust Bank boosted its stake in FTR in the latest quarter, The investment management firm added 251 additional shares and now holds a total of 9,750 shares of Frontier Communications Corp which is valued at $39,293. Frontier Communications Corp makes up approx 0.01% of Washington Trust Bank’s portfolio.Eqis Capital Management boosted its stake in FTR in the latest quarter, The investment management firm added 21,282 additional shares and now holds a total of 52,923 shares of Frontier Communications Corp which is valued at $213,280. Frontier Communications Corp makes up approx 0.01% of Eqis Capital Management’s portfolio.

Frontier Communications Corp opened for trading at $3.99 and hit $4.36 on the upside on Friday, eventually ending the session at $4.23, with a gain of 6.02% or 0.24 points. The heightened volatility saw the trading volume jump to 7,33,82,215 shares. Company has a market cap of $4,962 M.

On the company’s financial health, Frontier Communications Corp reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $-0.04. The company had revenue of $2608.00 million for the quarter, compared to analysts expectations of $2736.64 million. The company’s revenue was up 90.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Frontier Communications Corp. Frontier Communications Corp was Upgraded by Macquarie to ” Neutral” on Sep 6, 2016. Frontier Communications Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 18, 2016. Frontier Communications Corp was Initiated by Macquarie to “Underperform” on Jul 11, 2016.

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.

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