NEW YORK (
was the best-performing stock in the
The S&P 500 was down nearly 10 points, or 0.75%, to 1,303.
Shares of Frontier Communications rose 3.12% to $3.69. It's unclear as to why the stock was moving higher Thursday, though the company is holding a presentation at a Nomura conference Thursday afternoon.
Frontier Communications trades at an estimated price-to-earnings ratio for next year of 16.64 times; the average for fixed-line telecommunications companies is 32.35. For comparison,
has a lower forward P/E of 9.11.
Twelve of the 18 analysts who cover Frontier rated it hold; six analysts gave the stock a buy rating.
The stock has declined 10.7% year to date.
-- Written by Alexandra Zendrian
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