An issue of Frontier Communications Corporation (NASDAQ:FTR) debt rose 1.9% against its face value during trading on Monday. The high-yield issue of debt has a 8.875% coupon and will mature on September 15, 2020. The bonds in the issue are now trading at $95.25 and were trading at $84.50 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

A number of brokerages have commented on FTR. Royal Bank of Canada restated a “sector perform” rating and issued a $8.00 target price (down from $16.00) on shares of Frontier Communications in a research note on Monday, November 20th. Gabelli downgraded Frontier Communications from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. BidaskClub upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. UBS Group decreased their target price on Frontier Communications from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Finally, Bank of America downgraded Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price for the company. in a research note on Friday, November 10th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.77.

Shares of Frontier Communications Corporation (FTR) traded up $0.76 during midday trading on Monday, hitting $8.53. The stock had a trading volume of 4,410,000 shares, compared to its average volume of 3,740,000. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $669.25, a P/E ratio of -0.62 and a beta of 0.52. Frontier Communications Corporation has a fifty-two week low of $6.08 and a fifty-two week high of $53.70.

Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.64) earnings per share. equities research analysts forecast that Frontier Communications Corporation will post -4.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, December 14th. This represents a $2.40 annualized dividend and a dividend yield of 28.14%. Frontier Communications’s dividend payout ratio is presently -17.45%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Frontier Communications in the third quarter worth approximately $124,000. Engineers Gate Manager LP acquired a new stake in Frontier Communications in the third quarter worth approximately $138,000. Crossmark Global Holdings Inc. acquired a new stake in Frontier Communications in the third quarter worth approximately $146,000. Virginia Retirement Systems ET AL acquired a new stake in Frontier Communications in the third quarter worth approximately $174,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Frontier Communications in the third quarter worth approximately $176,000. Institutional investors and hedge funds own 62.87% of the company’s stock.

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About Frontier Communications

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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