Frontier Communications Corporation (FTR) Bonds Trading 0.6% Higher

An issue of Frontier Communications Corporation (NASDAQ:FTR) bonds rose 0.6% against their face value during trading on Tuesday. The high-yield debt issue has a 8.125% coupon and is set to mature on October 1, 2018. The debt is now trading at $99.62 and was trading at $101.25 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

A number of equities research analysts have issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $25.00 target price (down previously from $30.00) on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Hilliard Lyons cut shares of Frontier Communications Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of Frontier Communications Corporation in a report on Tuesday, August 8th. Cowen and Company reissued a “market perform” rating on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Finally, UBS AG reissued a “neutral” rating and set a $15.00 target price on shares of Frontier Communications Corporation in a report on Wednesday, August 2nd. Five research 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 currently has an average rating of “Hold” and a consensus price target of $10.04.

Frontier Communications Corporation (NASDAQ FTR) opened at $6.46 on Wednesday. Frontier Communications Corporation has a 1 year low of $6.26 and a 1 year high of $57.30. The company has a debt-to-equity ratio of 5.16, a current ratio of 0.70 and a quick ratio of 0.70.

Frontier Communications Corporation (NASDAQ:FTR) last announced its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.01. Frontier Communications Corporation had a negative net margin of 9.17% and a negative return on equity of 1.97%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business earned ($0.64) earnings per share. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. analysts forecast that Frontier Communications Corporation will post -6.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.40 annualized dividend and a yield of 37.15%. Frontier Communications Corporation’s dividend payout ratio (DPR) is presently -17.38%.

A number of large investors have recently made changes to their positions in the stock. Bollard Group LLC grew its position in Frontier Communications Corporation by 3.3% in the second quarter. Bollard Group LLC now owns 92,852 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 2,973 shares in the last quarter. Aviva PLC grew its position in Frontier Communications Corporation by 0.5% in the second quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock worth $855,000 after acquiring an additional 3,410 shares in the last quarter. Meeder Asset Management Inc. grew its position in Frontier Communications Corporation by 2.6% in the second quarter. Meeder Asset Management Inc. now owns 235,251 shares of the utilities provider’s stock worth $273,000 after acquiring an additional 5,888 shares in the last quarter. Arizona State Retirement System grew its position in Frontier Communications Corporation by 1.4% in the second quarter. Arizona State Retirement System now owns 494,600 shares of the utilities provider’s stock worth $574,000 after acquiring an additional 6,600 shares in the last quarter. Finally, State Treasurer State of Michigan grew its position in Frontier Communications Corporation by 1.5% in the second quarter. State Treasurer State of Michigan now owns 483,600 shares of the utilities provider’s stock worth $561,000 after acquiring an additional 7,000 shares in the last quarter.

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Frontier Communications Corporation 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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