Dropping The 52 Week Low, Frontier Communications Corp (Nasdaq:FTR) Close At $1.49

Frontier Communications Corp (Nasdaq:FTR)

June 12th, 2019

Amidst falling markets Frontier Communications Corp fell ($0.20) Wednesday which equals a 11.83% drop, closing at $1.49. As well as the drop in value, Frontier Communications Corp hit a new 52 week low of $1.47, breaking the previous low of $1.66 from earlier this month. Frontier Communications Corp bounced 17.01% between low and high. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.37.

Analysis results from 9 analysts suggest that Frontier Communications Corp might go up quite a bit (15.51%).

Market Sectors

The market sectors were mixed Wednesday with a majority of the sectors trending up. Utilities saw the biggest increase of the day (1.33%), while the Energy sector saw the biggest drop (-1.44%). Information Technology has seen the biggest year-to-date gain of 23.77%.

Energy and Financials experienced turn-arounds from their five day positive performances with Energy dropping -1.44%.

Sector Breakdown

  • Utilities, up 1.33%.
  • Healthcare, up 0.51%.
  • Materials, up 0.31%.
  • Real Estate, up 0.26%.
  • Industrials, up 0.20%.
  • Consumer Staples, up 0.04%.
  • Consumer Discretionary, down -0.11%.
  • Communication Services, down -0.28%.
  • Information Technology, down -0.58%.
  • Financials, down -0.95%.
  • Energy, down -1.44%.

Frontier Communications Corp Info

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper-based networks to consumer customers. The company also provides Ethernet and traditional circuit-based services; software defined wide area network, managed Wi-Fi and cloud IT solutions, voice and Unified Communications as a Service (UCaaS), and Voice over Internet Protocol (VoIP) services, as well as hardware and network solutions and services to small and medium business, and large enterprises. In addition, it offers data and Internet services; wireless broadband services; satellite TV video services; voice services, including data-based VoIP, UCaaS, and long distance and voice messaging services; and a package of communications services. Further, the company provides a range of access services that allow other carriers to use facilities to originate and terminate their local and long-distance voice traffic. It serves approximately 4.5 million customers and 3.7 million broadband subscribers in 29 states. The company was formerly known as Citizens Communications Company and changed its name to Frontier Communications Corporation in July 2008. Frontier Communications Corporation was founded in 1927 and is based in Norwalk, Connecticut.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Frontier Communications Corp’s score is 0.37) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

FTR daily update
FTR daily update

Via UnSplash

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