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

FTR has been the subject of several research analyst reports. ValuEngine lowered shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BidaskClub raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Frontier Communications in a research report on Sunday, September 17th. Zacks Investment Research lowered shares of Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Deutsche Bank decreased their price objective on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. Frontier Communications has an average rating of “Hold” and an average target price of $9.30.

Shares of Frontier Communications Corporation (FTR) opened at $6.98 on Friday. The company has a market cap of $537.62, a P/E ratio of -0.51 and a beta of 0.52. Frontier Communications Corporation has a one year low of $6.08 and a one year high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 34.38%. Frontier Communications’s payout ratio is -17.45%.

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP grew its stake in Frontier Communications by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock valued at $174,000 after acquiring an additional 9,000 shares during the period. Quantbot Technologies LP purchased a new position in Frontier Communications in the 3rd quarter valued at $124,000. Engineers Gate Manager LP purchased a new position in Frontier Communications in the 3rd quarter valued at $138,000. Crossmark Global Holdings Inc. purchased a new position in Frontier Communications in the 3rd quarter valued at $146,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Frontier Communications in the 3rd quarter valued at $174,000. 62.89% of the stock is currently owned by institutional investors and hedge funds.

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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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