Jefferies Sticks to Their Buy Rating for Frontier Communications Corporation

By Carrie Williams

Jefferies analyst Scott Goldman reiterated a Buy rating on Frontier Communications Corporation (NASDAQ: FTR) today and set a price target of $2. The company’s shares opened today at $1.31, close to its 52-week low of $1.19.

According to TipRanks.com, Goldman is a 5-star analyst with an average return of 19.8% and a 78.3% success rate. Goldman covers the Technology sector, focusing on stocks such as Fairpoint Communications, Boingo Wireless Inc, and Consolidated Comms.

Frontier Communications Corporation has an analyst consensus of Hold, with a price target consensus of $1.95.

Based on Frontier Communications Corporation’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.36 billion and GAAP net loss of $76 million. In comparison, last year the company earned revenue of $1.36 billion and had a GAAP net loss of $187 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FTR in relation to earlier this year. Most recently, in September 2014, Myron Wick, a Director at FTR sold 30,000 shares for a total of $190,800.

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. It also provides data and Internet services, voice services, switched access services, video services, and Customer Premise Equipment. The company was founded in 1935 and is headquartered in Stamford, CT.