Frontier Communications Corp (NASDAQ:FTR) reported on Tuesday that earnings in the second-quarter moved down 44% as the regional telecommunications corporation announced heavy one-time outlays and less residential and business clients.
Frontier announced a profit of $18 million or 2 cents per share in the most recent quarter, low from $32.3 million or 3 cents per share in similar period a year ago. The previous quarter comprised a loss on the early extinguishment of debt of $70.8 million and integration expenses of $28.6 million. Per-share earnings without special items moved up to 8 cents from 6 cents.
The company reported that revenue fell 4.8% to $1.26 billion. Thomson Reuters analysts survey had anticipated per-share earnings of 5 cents per share on $1.24 billion of revenue.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. CenturyLink, Inc (NYSE:CTL) rose +0.41% to settle at $41.54, Telephone & Data Systems, Inc (NYSE:TDS) moved up +1.00% to end at $24.23 while Alaska Communications Systems Group, Inc (NASDAQ:ALSK) decreased -3.65% to finish on Tuesday at $2.11.
Frontier Communications Corp (NASDAQ:FTR) on July 31, 2012 increased +5.66% to the closing price of $3.92. The overall volume in the last trading session was 33.80 million shares. Its fifty two week range was $3.06-$7.62. The total market capitalization remained $3.91 billion.
FTR is ahead its 52 week low with +31.74% and lagging behind from its 52 week high price with -42.46%. FTR last month stock price volatility remained 3.09%. In its share capital FTR has 998.45 million outstanding shares among them 995.86 million shares have been floated in market exchange. FTR stock institutional ownership remained 60.45% while insider ownership included 0.47%.
The stock price of FTR is moving forward from its 20 days moving average with +1.88% and remote positively from 50 days moving average with +6.01%. FTR current year earnings per share experienced a downfall of -36.00% while its current quarter performance remained -0.25%. Company’s beta coefficient included 0.72. Beta factors measures the amount of market risk associated with market trade.
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