Nomura Securities Maintains a 'Buy' on Frontier Communications (FTR); Adjusting Estimates Mixed Quarter
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Price: $4.42 +0.45%
Rating Summary:
9 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FTR Now!
Nomura Securities maintains a 'Buy' on Frontier Communications (NASDAQ: FTR) price target of $5.00.
Analyst, Mike McCormack, said, "This was a mixed quarter, with data revenue not growing as expected, but line-loss trends better than forecasted. We increased our 2012 revenue estimate from $4.92bn to $5.0bn on the better run rate in Other revenue, and raised free cash flow from $778mn to $831mn. Frontier’s 2Q revenue of $1.26bn came in ahead of our and consensus’ estimate of $1.24bn, mostly related to higher other. This drove the slight EBITDA beat, with the company reporting $605mn versus our and consensus’ estimates of $600. Free cash flow was $196mn, versus our estimate of $124mn, with much of the beat from core capital expenditures of $168mn versus our $196mn."
3Q12E EPS from $0.10 to $0.09; 4Q12E EPS from $0.10 to $0.09; F12E EPS at $0.31.
For an analyst ratings summary and ratings history on Frontier Communications click here. For more ratings news on Frontier Communications click here.
Shares of Frontier Communications closed at $3.92 yesterday, with a 52 week range of $3.06-$7.62.
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Analyst, Mike McCormack, said, "This was a mixed quarter, with data revenue not growing as expected, but line-loss trends better than forecasted. We increased our 2012 revenue estimate from $4.92bn to $5.0bn on the better run rate in Other revenue, and raised free cash flow from $778mn to $831mn. Frontier’s 2Q revenue of $1.26bn came in ahead of our and consensus’ estimate of $1.24bn, mostly related to higher other. This drove the slight EBITDA beat, with the company reporting $605mn versus our and consensus’ estimates of $600. Free cash flow was $196mn, versus our estimate of $124mn, with much of the beat from core capital expenditures of $168mn versus our $196mn."
3Q12E EPS from $0.10 to $0.09; 4Q12E EPS from $0.10 to $0.09; F12E EPS at $0.31.
For an analyst ratings summary and ratings history on Frontier Communications click here. For more ratings news on Frontier Communications click here.
Shares of Frontier Communications closed at $3.92 yesterday, with a 52 week range of $3.06-$7.62.
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