An issue of Frontier Communications Corporation (NASDAQ:FTR) bonds fell 1.3% against their face value during trading on Monday. The high-yield issue of debt has a 11% coupon and is set to mature on September 15, 2025. The debt is now trading at $75.69 and was trading at $77.50 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several analysts recently commented on the company. BidaskClub raised Frontier Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Deutsche Bank dropped their price objective on Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. Cowen reaffirmed a “hold” rating and set a $14.00 price objective on shares of Frontier Communications in a research note on Thursday, October 19th. Zacks Investment Research raised Frontier Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America downgraded Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a research note on Friday, November 10th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.30.

Frontier Communications Corporation (NASDAQ FTR) opened at $8.20 on Tuesday. 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 has a 1-year low of $6.08 and a 1-year high of $57.30.

Frontier Communications (NASDAQ:FTR) last released its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.01. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. The company’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.64) EPS. sell-side analysts predict that Frontier Communications Corporation will post -4.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 29.27%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications’s dividend payout ratio (DPR) is presently -17.38%.

Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Frontier Communications in the 3rd quarter valued at about $176,000. Engineers Gate Manager LP bought a new position in shares of Frontier Communications in the 3rd quarter valued at about $138,000. Pinnacle Associates Ltd. bought a new position in shares of Frontier Communications in the 3rd quarter valued at about $535,000. Virginia Retirement Systems ET AL bought a new position in shares of Frontier Communications in the 3rd quarter valued at about $174,000. Finally, SG Americas Securities LLC grew its holdings 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 acquiring an additional 357,493 shares in the last quarter. Hedge funds and other institutional investors own 67.62% 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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