An issue of Frontier Communications Corporation (NASDAQ:FTR) debt rose 2.2% as a percentage of its face value during trading on Friday. The debt issue has a 7.875% coupon and is set to mature on January 15, 2027. The debt is now trading at $66.25. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

A number of analysts have issued reports on FTR shares. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 target price (down previously from $30.00) on shares of Frontier Communications Corporation in a research report on Wednesday, August 2nd. Vetr lowered Frontier Communications Corporation from a “strong-buy” rating to a “buy” rating and set a $13.35 target price on the stock. in a research report on Tuesday, October 31st. Morgan Stanley cut their target price on Frontier Communications Corporation to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 23rd. BidaskClub raised Frontier Communications Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $16.00 target price on shares of Frontier Communications Corporation in a research report on Sunday, September 17th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.04.

Frontier Communications Corporation (FTR) traded up $0.30 during trading on Friday, hitting $6.96. The stock had a trading volume of 3,447,239 shares, compared to its average volume of 4,607,219. Frontier Communications Corporation has a 1-year low of $6.25 and a 1-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 Corporation (NASDAQ:FTR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications Corporation had a negative return on equity of 1.97% and a negative net margin of 9.17%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company earned ($0.64) earnings per share. The company’s revenue was down 10.8% on a year-over-year basis. analysts predict that Frontier Communications Corporation will post -4.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 34.48%. Frontier Communications Corporation’s payout ratio is currently -17.38%.

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

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About Frontier Communications Corporation

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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