Nomura Securities Maintains a 'Neutral' on Frontier Communications (FTR); Review of 1Q Earnings

Nomura Securities maintains a 'Neutral' on Frontier Communications (NYSE: FTR).

Nomura analyst, Mike McCormack, said, "Despite concerns exiting 4Q11, Frontier posted respectable results. We are encouraged by better-than-expected free cash flow, and we believe that the company is beginning to derive more meaningful synergies from the Verizon properties. Total revenue of $1.347B met our expectation of $1.346B, and EBITDA of $615M was slightly higher than our $612M estimate, resulting in a modest margin beat. EPS of $0.06 was in line with our estimate; our 2011 and 2012 EPS estimates remain unchanged."

For more ratings news on Frontier Communications click here and for the rating history of Frontier Communications click here.

Shares of Frontier Communications closed at $8.37 yesterday.

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