An issue of Frontier Communications Corp (NASDAQ:FTR) bonds rose 1.5% against their face value during trading on Tuesday. The high-yield debt issue has a 11% coupon and will mature on September 15, 2025. The debt is now trading at $75.50 and was trading at $73.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
Several analysts recently issued reports on the company. BidaskClub upgraded Frontier Communications from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded Frontier Communications from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $6.00 target price on shares of Frontier Communications in a report on Friday, August 3rd. Zacks Investment Research lowered Frontier Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Guggenheim restated a “sell” rating and issued a $4.20 price objective on shares of Frontier Communications in a research note on Wednesday, August 1st. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Frontier Communications presently has a consensus rating of “Hold” and a consensus price target of $6.27.
NASDAQ:FTR traded up $0.25 on Tuesday, hitting $5.26. The company’s stock had a trading volume of 3,250,588 shares, compared to its average volume of 3,308,279. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 6.75. The firm has a market capitalization of $529.05 million, a price-to-earnings ratio of -1.39 and a beta of 0.83. Frontier Communications Corp has a one year low of $4.26 and a one year high of $11.64.
Large investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP acquired a new position in shares of Frontier Communications in the second quarter valued at approximately $106,000. Xact Kapitalforvaltning AB acquired a new stake in Frontier Communications during the first quarter worth approximately $119,000. Glen Harbor Capital Management LLC grew its position in Frontier Communications by 78.2% during the second quarter. Glen Harbor Capital Management LLC now owns 23,086 shares of the utilities provider’s stock worth $124,000 after buying an additional 10,132 shares in the last quarter. Midas Management Corp acquired a new stake in Frontier Communications during the second quarter worth approximately $136,000. Finally, Captrust Financial Advisors acquired a new stake in Frontier Communications during the second quarter worth approximately $153,000. Hedge funds and other institutional investors own 62.57% of the company’s stock.
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Frontier Communications Company Profile (NASDAQ:FTR)
Frontier Communications Corporation 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.
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