Duff Phelps Investment Management Co Lowers stake in Frontier Communications Corp (FTR)

Frontier Communications Corp (FTR) : Duff Phelps Investment Management Co reduced its stake in Frontier Communications Corp by 1.3% during the most recent quarter end. The investment management company now holds a total of 7,572,491 shares of Frontier Communications Corp which is valued at $29,835,615 after selling 100,000 shares in Frontier Communications Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Frontier Communications Corp makes up approximately 0.43% of Duff Phelps Investment Management Co’s portfolio.

Other Hedge Funds, Including , Gierl Augustine Investment Management Inc boosted its stake in FTR in the latest quarter, The investment management firm added 206 additional shares and now holds a total of 1,347 shares of Frontier Communications Corp which is valued at $5,307. Private Bank Trust Co sold out all of its stake in FTR during the most recent quarter. The investment firm sold 23,470 shares of FTR which is valued $93,880.Hexavest reduced its stake in FTR by selling 476,955 shares or 6.83% in the most recent quarter. The Hedge Fund company now holds 6,501,387 shares of FTR which is valued at $26,980,756. Frontier Communications Corp makes up approx 0.49% of Hexavest’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in FTR by selling 234,641 shares or 66.22% in the most recent quarter. The Hedge Fund company now holds 119,698 shares of FTR which is valued at $496,747. Frontier Communications Corp makes up approx 0.01% of Oregon Public Employees Retirement Fund’s portfolio.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.

Frontier Communications Corp closed down -0.06 points or -1.50% at $3.94 with 1,14,54,823 shares getting traded on Friday. Post opening the session at $4.01, the shares hit an intraday low of $3.93 and an intraday high of $4.04 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 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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