What happened
Frontier Communications Corp. (NASDAQ:FTR) stock continued to fall in April, down more than 12% during the month according to data from S&P Global Market Intelligence, amid market worry about what first-quarter results would hold. Those numbers did come in lower than expected in early May.
So what
Frontier's stock had already taken a big hit following the company's full-year 2016 earnings released in February. Looking ahead to the first quarter, the market didn't have much hope for more encouraging results, but it seemed that throughout April, those expectations turned even lower, which led to increasingly steady declines in the stock price. The fears proved well-founded when the company reported rough results on May 2, including a net loss of $75 million after the company's residential subscriber base continued to decline.
IMAGE SOURCE: GETTY IMAGES.
Now what
As a result of the continued earnings pressure, the company cut its huge dividend payout. The dividend ten best stocks for investors to buy right now… and Frontier Communications wasn't one of them! That's right -- they think these 10 stocks are even better buys.
Click here to learn about these picks!
