Winning Stock Forecast: Frontier Communications Corp (NASDAQ: FTR) Pushed Its Stock To A New Height With 39.14% In 3 Days

Winning Stock Forecast

“In the first quarter we achieved growth in consumer revenue, reflecting the early results of the substantial initiatives we have underway across the company” – Dan McCarthy, President and CEO

[Image Source: By Frontier Communications [Public domain], via Wikimedia Commons]

Over the one year period from May 2nd to May 5th, 2018 FTR stock price experienced steep price rise of more than 39%. Taking into account the overall FTR stock performance indicators for the last quarter, it is reasonable to suggest that this is the consequence of the company’s results achieved in 1Q 2018. Based on the press release on May 1, 2018 the following highlights are important to analyse:

  • Total revenue of $2.20 billion
  • Achieved sequential growth in consumer revenue
  • Broadband trends improved sequentially
  • The first quarter of positive CTF FiOS® broadband net additions since acquisition
  • Net income of $20 million
  • Adjusted EBITDA of $908 million

The above highlights could not pass unseen by the market and investors observed FTR stock growth of 39.14% during the above-mentioned period. The below chart illustrates this:

[Source: Google Finance]

At the same time the analyst community mostly took hold position on FTR stock over the last 4 months, with slightly increasing number of analysts who took under-perform positions:

[Source: Yahoo Finance]

On May 2, 2018, I Know First issued a bullish 3 days forecast for Frontier Communications Corp (NASDAQ: FTR). The forecast illustrated a signal of 4.91 and a predictability of 0.16. In accordance with the forecast, FTR stock returned 39.14% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

Current I Know First subscribers received this bullish FTR forecast on May 2, 2018.

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Frontier Communications Corporation (NASDAQ: FTR) provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment. In addition, it offers 24/7 technical support; wireless broadband services in selected markets; satellite TV video services; voice services, including data-based VoIP, and long distance and voice messaging services; and a package of communications services. Further, the company provides a range of access services that allow other carriers to use facilities to originate and terminate their local and long distance voice traffic. As of December 31, 2017, it served approximately 4.9 million customers and 3.9 million broadband subscribers in 29 states. The company was formerly known as Citizens Communications Company and changed its name to Frontier Communications Corporation in July 2008. Frontier Communications Corporation was founded in 1927 and is based in Norwalk, Connecticut.

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Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.