Goldman Sachs Downgrades Frontier Communications Corp to Sell

Brokerage firm Goldman Sachs Downgrades its rating on Frontier Communications Corp(FTR). The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Goldman Sachs was issued on Mar 22, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 7, 2017, Bank of America said it Downgrades its rating on Frontier Communications Corp. The shares have been rated ‘Neutral’ by the firm. On Feb 28, 2017, Morgan Stanley said it Downgrades its rating on Frontier Communications Corp. The shares have been rated ‘Neutral’ by the firm.

Frontier Communications Corp (FTR) made into the market gainers list on Fridays trading session with the shares advancing 7.73% or 0.15 points. Due to strong positive momentum, the stock ended at $2.09, which is also near the day’s high of $2.11. The stock began the session at $1.93 and the volume stood at 7,97,09,949 shares. The 52-week high of the shares is $5.75 and the 52 week low is $1.92. The company has a current market capitalization of $2,451 M and it has 1,17,25,25,000 shares in outstanding.

Frontier Communications Corp(FTR) last announced its earnings results on Feb 27, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $2.409B. Analysts had an estimated revenue of $2.500B. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On Nov 12, 2015, Kathleen Weslock (EVP, Chief People Officer) purchased 12,370 shares at $4.81 per share price.Also, 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.

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