Stocks News Review: Frontier Communications Corporation (NASDAQ:FTR)


Frontier Communications Corporation (NASDAQ:FTR) retreated -0.54% and closed its last session at $3.65. The stock has the market capitalization of $4.28 Billion with the total outstanding shares of 1.17 Billion. Frontier Communications Corporation. has Analysts’ Mean Recommendation of 2.08 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 0.

Frontier Communications Corporation (NASDAQ:FTR) touched its 52-Week High of $5.85 on Mar 7, 2016 while it’s 52-Week Low of $3.1 on Nov 4, 2016. The company currently has Return on Assets of -2.2 percent, Return on Equity of -11.8% and Return on Investment of 4.2 percent. The stock currently showing Weekly Volatility of 2.45%% and Monthly Volatility of 3.95% Percent with Average True Range of 0.12 and Beta of 0.65.

The 14 analysts offering 12-month price forecasts for Frontier Communications Corp have a median target of 5.00, with a high estimate of 8.00 and a low estimate of 3.00. The median estimate represents a +36.99% increase from the last price of 3.65.

Press Release:

The Company on 1 November reported its third quarter financial results and provided an update on its progress with the acquisition of Verizon’s wireline properties in California, Texas, and Florida (CTF).

Frontier today declared a new customer-focused organizational structure and the creation of Commercial and Consumer business units. The updated structure will result in enhanced focus on the commercial segment and more efficient capital allocation. Current regional support functions including Engineering, Finance, Human Resources, Communications and Marketing are being centralized to achieve improved operational performance as well as expense reductions.

Frontier’s annualized cost synergy target is now $1.4 billion, up from the $1.25 billion target outlined in the second quarter earnings report. Yet-to-be attained cost synergies of $400 million are anticipated to be achieved by mid-year 2019, including $250 million anticipated to be achieved by mid-year 2017.

Frontier’s priorities continue to be driving strong free cash flow and continuing a disciplined capital allocation policy. Frontier is committed to maintaining an attractive dividend, preserving its industry-leading dividend payout ratio, and reducing leverage.

Company Profile:

Frontier Communications Corporation operates as a communications company providing services primarily to rural areas and small and medium-sized towns and cities in the United States. The Company offers a variety of voice, data, Internet, and television services and products. It also provides local and long distance voice services, enhanced services, long distance network services and packages of communications services. Frontier Communications Corporation is based in Stamford, Connecticut.