Frontier Communications (FTR) Bonds Trading 0.8% Lower

An issue of Frontier Communications Corporation (NASDAQ:FTR) bonds fell 0.8% as a percentage of their face value during trading on Monday. The debt issue has a 7.125% coupon and is set to mature on January 15, 2023. The debt is now trading at $67.25 and was trading at $69.25 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

A number of equities research analysts have issued reports on FTR shares. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. BidaskClub upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Co reiterated a “market perform” rating and set a $9.00 target price (down from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. Finally, Bank of America lowered shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price on the stock. in a report on Friday, November 10th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.30.

Shares of Frontier Communications Corporation (NASDAQ:FTR) opened at $6.96 on Wednesday. Frontier Communications Corporation has a fifty-two week low of $6.08 and a fifty-two week high of $57.30. The firm has a market cap of $547.64, a price-to-earnings ratio of -0.51 and a beta of 0.52. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.95) by $0.01. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned ($0.64) EPS. The company’s revenue was down 10.8% on a year-over-year basis. sell-side analysts anticipate that Frontier Communications Corporation will post -4.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.40 annualized dividend and a yield of 34.48%. Frontier Communications’s dividend payout ratio is currently -17.45%.

A number of large investors have recently made changes to their positions in FTR. Shelton Capital Management purchased a new position in Frontier Communications during the 2nd quarter worth $111,000. GSA Capital Partners LLP purchased a new stake in shares of Frontier Communications in the second quarter valued at about $113,000. Quantbot Technologies LP purchased a new stake in shares of Frontier Communications in the third quarter valued at about $124,000. MML Investors Services LLC boosted its holdings in shares of Frontier Communications by 204.3% in the second quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 79,473 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Frontier Communications in the third quarter valued at about $138,000. Hedge funds and other institutional investors own 62.89% of the company’s stock.

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Frontier Communications Company Profile

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

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