Today’s Market Runner: Could Frontier Communications Corp See a Reversal After Breaking Its Yearly Low?

Today's Market Runner: Could Frontier Communications Corp See a Reversal After Breaking Its Yearly Low?

The stock of Frontier Communications Corp (NASDAQ:FTR) hit a new 52-week low and has $3.07 target or 5.00% below today’s $3.23 share price. The 5 months bearish chart indicates high risk for the $3.27B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $3.07 price target is reached, the company will be worth $163.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 31.08M shares traded hands or 41.02% up from the average. Frontier Communications Corp (NASDAQ:FTR) has declined 38.03% since April 1, 2016 and is downtrending. It has underperformed by 39.24% the S&P500.

Frontier Communications Corp (NASDAQ:FTR) Ratings Coverage

Out of 11 analysts covering Frontier Communications (NASDAQ:FTR), 4 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 36% are positive. Frontier Communications has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Bernstein with “Outperform” on Tuesday, September 15. The stock of Frontier Communications Corp (NASDAQ:FTR) earned “Hold” rating by Sandler O’Neill on Monday, October 12. The stock of Frontier Communications Corp (NASDAQ:FTR) has “Hold” rating given on Wednesday, November 2 by Deutsche Bank. The stock of Frontier Communications Corp (NASDAQ:FTR) has “Neutral” rating given on Tuesday, September 6 by Macquarie Research. The stock of Frontier Communications Corp (NASDAQ:FTR) earned “Outperform” rating by Cowen & Co on Tuesday, October 13. The stock of Frontier Communications Corp (NASDAQ:FTR) earned “Overweight” rating by Stephens on Wednesday, August 19. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, September 22. The stock of Frontier Communications Corp (NASDAQ:FTR) earned “Overweight” rating by JP Morgan on Tuesday, August 4. The stock has “Underperform” rating given by Macquarie Research on Monday, July 11. On Monday, July 18 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.38 in Q2 2016. Its up 0.27, from 1.11 in 2016Q1. The ratio improved, as 54 funds sold all Frontier Communications Corp shares owned while 137 reduced positions. 62 funds bought stakes while 202 increased positions. They now own 757.61 million shares or 2.21% less from 774.76 million shares in 2016Q1.
Visionary Asset Mgmt holds 488,619 shares or 0.85% of its portfolio. Advisor Partners Limited Liability Company accumulated 0.03% or 16,624 shares. Capital Ltd Lc owns 69 shares or 0% of their US portfolio. Duncker Streett And, a Missouri-based fund reported 350 shares. Manufacturers Life The last reported 0.01% of its portfolio in the stock. Creative Planning holds 0.01% of its portfolio in Frontier Communications Corp (NASDAQ:FTR) for 196,693 shares. Meridian Counsel owns 34,420 shares or 0.12% of their US portfolio. Johnson Finance Gp accumulated 8,046 shares or 0.01% of the stock. Ing Groep Nv has 0% invested in the company for 52,584 shares. Us Fincl Bank De accumulated 793,896 shares or 0.01% of the stock. Everence Mgmt accumulated 56,308 shares or 0.09% of the stock. Mercer Capital Advisers Inc has 592 shares for 0% of their US portfolio. Amp Ltd has invested 0.01% of its portfolio in Frontier Communications Corp (NASDAQ:FTR). Herndon Mngmt Limited Co reported 108 shares or 0% of all its holdings. Shell Asset Management has 0.01% invested in the company for 58,831 shares.

More recent Frontier Communications Corp (NASDAQ:FTR) news were published by: Fool.com which released: “Why Frontier Communications Corp. Got Hammered” on November 02, 2016. Also Fool.com published the news titled: “Better Buy: Frontier Communications Corp. vs. Verizon Communications Inc.” on October 08, 2016. Fool.com‘s news article titled: “Frontier Communications Corporation’s Biggest Failure in 2016 So Far” with publication date: October 05, 2016 was also an interesting one.

FTR Company Profile

Frontier Communications Corporation (Frontier), incorporated on November 12, 1935, offers a range of voice, data, and video services and products. The Firm offers a portfolio of communications services for residential and business clients in each of its markets. The Firm conducts business with both residential and business customers. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services. It offers these services both on a standalone basis and as bundled packages that are designed to simplify customer purchasing decisions. Frontier provides both regulated and unregulated voice, data and video services to residential, business and wholesale customers. It provides data and Internet services; local and long distance wireline voice services to residential and business clients 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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