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FTR

Frontier Communications

$5.69

-0.2 (-3.40%)

11:45
10/12/18
10/12
11:45
10/12/18
11:45

Frontier Communications call volume above normal and directionally bullish

Bullish option flow detected in Frontier Communications with 1,562 calls trading, 3x expected, and implied vol increasing over 2 points to 88.70%. Oct-18 6 calls and Jan-19 10 calls are the most active options, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 0.14. Earnings are expected on November 6th.

  • 06

    Nov

  • 12

    Nov

FTR Frontier Communications
$5.69

-0.2 (-3.40%)

02/28/18
02/28/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Celgene (CELG) downgraded to Hold from Buy at SunTrust by analyst Yatin Suneja after the company received a refusal to file letter from the FDA on ozanimod for relapsing forms of multiple sclerosis. Suneja said that following pipeline setbacks in late 2017, ozanimod was central to his "bull thesis to re-accelerate growth" and provide "much needed diversification away from myeloma." Given the delay, he lowered his ozanimod peak sales estimate to $3.5B from $5B. The refusal to file letter could result in a 24-month or longer delay for ozanimod's launch in relapsing forms of multiple sclerosis, Suneja said. 2. Frontier Communications (FTR) downgraded to Hold from Buy at Jefferies by analyst Scott Goldman. With the dividend now suspended and EBITDA stabilization "still a work in progress," the shares have no near-term catalyst, Goldman said. He believes "significant challenges" remain for Frontier following the dividend suspension. 3. Comcast (CMCSA, CMCSK) downgraded to Neutral from Outperform at Macquarie by analyst Amy Young, who cited uncertainty around the M&A playbook and increased net leverage. Young said Comcast's intention to acquire Sky (SKYAY) diversifies its portfolio and increases international revenues to 25% of total from 9% currently, but exposes it to satellite TV, which faces secular pressures. The analyst views the 12x price tag for Sky as high, questions the synergies, and believes the unpredictability could cap near-term upside. 4. e.l.f. Beauty (ELF) downgraded to Market Perform from Outperform at BMO Capital by analyst Shannon Coyne, who cited the "near-term challenges in the mass category" and heightened competition yielding further pressure on results and the stock in the near term. The analyst also points to the management having lowered its expectations for the 3rd time in 6 months, adding that it may take some time for investor confidence to return. Despite the downgrade, the analyst believes that e.l.f "has material white space in existing and new retailers" as well as an "unmatched strong value proposition." 5. Maxim Integrated (MXIM) downgraded to Neutral from Outperform at Macquarie by analyst Srini Pajjuri, who said shares have significantly outperformed the SOX index year-to-date and believes healthy fundamentals are now backed in, combined with some M&A premium. Pajjuri believes further upside is limited on a fundamental basis and believes comps will get tougher in the second half of 2018 and sees risk of higher volatility in Consumer as Samsung GS9 builds fade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/18
GUGG
03/13/18
INITIATION
Target $6
GUGG
Sell
Frontier Communications initiated with a Sell at Guggenheim
Guggenheim analyst Mike McCormack initiated coverage of the Telecom Services space, starting Frontier Communications with a Sell rating and $6 price target, as he believes the Independent Local Exchange Carriers, or ILECs, burdened by legacy revenue are disadvantaged.
05/09/18
SBSH
05/09/18
DOWNGRADE
Target $6.25
SBSH
Sell
Frontier Communications downgraded to Sell from Neutral at Citi
Citi analyst Mike Rollins downgraded Frontier Communications to Sell and cut his price target for the shares to $6.25 from $7.25. The analyst sees continued revenue erosion, more limited cost cutting after Q2 and the 32% increase in outstanding shares from the preferred conversion on June 29 as risks for the stock over next 12 months. Pressures from revenue on OIBDA are likely to lead net debt leverage higher and erode equity value over time, Rollins tells investors in a research note.
06/28/18
SBSH
06/28/18
NO CHANGE
Target $4.5
SBSH
Sell
Frontier Communications price target lowered to $4.50 from $6.25 at Citi
Citi analyst Michael Rollins lowered his price target for Frontier Communications to $4.50 and keeps a Sell rating on the shares. He analyst continues to recommend selling Frontier given the potential for "operations to continue to underwhelm" and net debt leverage to stay elevated. Further, he notes that the shares outstanding will increase on June 29 by 32% with the mandatory preferred equity set for conversion. Frontier is facing an uphill battle over the coming 12 months with revenue erosion likely to continue and a more challenging path to cut costs at the same rate it has for the past 12 months, Rollins tells investors in a research note. He keeps a Sell rating on the shares.

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