The company reported profit of $39.3 million, or 4 cents a share, down from $48.1 million, or 5 cents a share, in the same period one year earlier. Adjusted earnings were $48.4 million, or 5 cents a share. Analysts polled by Thomson Reuters expected earnings of 7 cents a share.
Revenue declined year over year to $1.15 billion from $1.21 billion. Analysts expected revenue of $1.17 billion.
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The stock was down 2.52% to $5.81 at 10:06 a.m.
TheStreet Ratings team rates FRONTIER COMMUNICATIONS CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FRONTIER COMMUNICATIONS CORP (FTR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations, expanding profit margins, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: