Guggenheim Reiterates Their Sell Rating on Frontier Communications Corporation (FTR)


Guggenheim analyst Mike McCormack reiterated a Sell rating on Frontier Communications Corporation (FTR) today and set a price target of $4. The company’s shares closed yesterday at $5.26, close to its 52-week low of $4.26.

According to TipRanks.com, McCormack is a 5-star analyst with an average return of 12.2% and a 76.5% success rate. McCormack covers the Technology sector, focusing on stocks such as Sprint Corp, T Mobile US, and Windstream.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Frontier Communications Corporation with a $3.50 average price target, representing a -33.5% downside. In a report released today, UBS also downgraded the stock to Sell with a $3 price target.

.

See today’s analyst top recommended stocks >>

Based on Frontier Communications Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.16 billion and GAAP net loss of $18 million. In comparison, last year the company earned revenue of $2.25 billion and had a GAAP net loss of $38 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Frontier Communications Corp. engages in the provision of communication services to urban, suburban, and rural customers. The firm offers voice, data, and video services and products on a standalone basis and as bundled or packaged solutions.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts