An issue of Frontier Communications Corp (NASDAQ:FTR) debt rose 0.9% against its face value during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $16.00 to $10.00. The high-yield issue of debt has a 11% coupon and will mature on September 15, 2025. The debt is now trading at $81.13 and was trading at $82.00 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

Several other equities analysts have also recently weighed in on the stock. Guggenheim assumed coverage on shares of Frontier Communications in a research report on Tuesday, March 13th. They set a “sell” rating and a $6.00 price objective on the stock. Jefferies Group cut shares of Frontier Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. BidaskClub upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Vetr upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 price objective on the stock in a research report on Wednesday, February 21st. Finally, Zacks Investment Research cut shares of Frontier Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.90.

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Large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new stake in shares of Frontier Communications in the 3rd quarter valued at $146,000. Quantbot Technologies LP acquired a new stake in shares of Frontier Communications in the 3rd quarter valued at $124,000. SG Americas Securities LLC lifted its stake in shares of Frontier Communications by 109.9% in the 3rd quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 357,493 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Frontier Communications in the 3rd quarter valued at $174,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Frontier Communications in the 3rd quarter valued at $535,000. 71.01% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $548.86, a P/E ratio of -0.27 and a beta of 0.73.

Frontier Communications (NASDAQ:FTR) last released its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.53. Frontier Communications had a negative net margin of 19.76% and a negative return on equity of 3.95%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business earned ($0.12) EPS. Frontier Communications’s quarterly revenue was down 8.0% compared to the same quarter last year. equities research analysts anticipate that Frontier Communications Corp will post -2.47 EPS for the current year.

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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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