An issue of Frontier Communications Corporation (NASDAQ:FTR) debt rose 4.3% against its face value during trading on Wednesday. The debt issue has a 8.875% coupon and is set to mature on September 15, 2020. The bonds in the issue are now trading at $90.75 and were trading at $85.25 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

A number of research analysts have issued reports on the stock. Deutsche Bank dropped their target price on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, October 10th. Zacks Investment Research cut shares of Frontier Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $9.00 target price (down from $14.50) on shares of Frontier Communications in a report on Thursday, November 2nd. UBS Group dropped their target price on shares of Frontier Communications from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. cut shares of Frontier Communications from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $17.00 to $8.00 in a report on Wednesday, November 1st. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.77.

Frontier Communications Corporation (NASDAQ FTR) traded down $0.40 during mid-day trading on Wednesday, hitting $7.42. 2,848,290 shares of the stock traded hands, compared to its average volume of 4,300,000. The firm has a market capitalization of $582.16, 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 $53.85. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.01. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The company’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.64) earnings per share. sell-side analysts expect that Frontier Communications Corporation will post -4.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.60 dividend. The ex-dividend date was Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 32.35%. Frontier Communications’s dividend payout ratio is presently -17.45%.

Several hedge funds have recently added to or reduced their stakes in FTR. Quantbot Technologies LP acquired a new stake in Frontier Communications during the third quarter worth approximately $124,000. Engineers Gate Manager LP acquired a new stake in Frontier Communications during the third quarter worth approximately $138,000. Comerica Bank boosted its position in Frontier Communications by 1.3% during the second quarter. Comerica Bank now owns 940,739 shares of the utilities provider’s stock worth $997,000 after acquiring an additional 12,067 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Frontier Communications during the third quarter worth approximately $146,000. Finally, Louisiana State Employees Retirement System boosted its position in Frontier Communications by 61.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 12,800 shares during the last quarter. Institutional investors and hedge funds own 62.90% 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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