Frontier Communications (FTR) Bonds Drop 1.7% During Trading

An issue of Frontier Communications Corporation (NASDAQ:FTR) bonds fell 1.7% as a percentage of their face value during trading on Tuesday. The debt issue has a 9% coupon and is set to mature on August 15, 2031. The debt is now trading at $65.79 and was trading at $66.50 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

FTR has been the subject of a number of research analyst reports. Zacks Investment Research raised Frontier Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $9.00 price target (down previously from $14.50) on shares of Frontier Communications in a research note on Thursday, November 2nd. Bank of America lowered Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price target for the company. in a research note on Friday, November 10th. BidaskClub lowered Frontier Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Finally, Barclays initiated coverage on Frontier Communications in a research note on Friday, December 15th. They issued an “underweight” rating and a $7.00 price target for the company. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.77.

Frontier Communications Corporation (FTR) opened at $7.43 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16. The stock has a market capitalization of $608.83, a price-to-earnings ratio of -0.54 and a beta of 0.52. Frontier Communications Corporation has a twelve month low of $6.08 and a twelve month high of $55.50.

Frontier Communications (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.01. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.64) earnings per share. equities analysts forecast that Frontier Communications Corporation will post -4.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.60 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a yield of 32.30%. Frontier Communications’s dividend payout ratio (DPR) is -17.45%.

A number of institutional investors and hedge funds have recently bought and sold shares of FTR. Shelton Capital Management bought a new position in shares of Frontier Communications during the second quarter valued at $111,000. GSA Capital Partners LLP bought a new position in shares of Frontier Communications during the second quarter valued at $113,000. Quantbot Technologies LP bought a new position in shares of Frontier Communications during the third quarter valued at $124,000. MML Investors Services LLC increased its holdings in shares of Frontier Communications by 204.3% during 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 bought a new position in shares of Frontier Communications during the third quarter valued at $138,000. Institutional investors and hedge funds 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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