Frontier Communications (FTR) Bonds Drop 1% During Trading
An issue of Frontier Communications Corporation (NASDAQ:FTR) debt fell 1% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 8.5% coupon and will mature on April 15, 2020. The debt is now trading at $91.75 and was trading at $93.09 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
A number of research analysts have issued reports on FTR shares. BidaskClub upgraded Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Deutsche Bank decreased their target price on Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, October 10th. Zacks Investment Research cut Frontier Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine cut Frontier Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co cut Frontier Communications from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $17.00 to $8.00 in a research report on Wednesday, November 1st. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.46.
Shares of Frontier Communications Corporation (NASDAQ FTR) opened at $8.55 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16. Frontier Communications Corporation has a twelve month low of $6.08 and a twelve month high of $57.30.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 28.07%. The ex-dividend date of this dividend is Thursday, December 14th. Frontier Communications’s dividend payout ratio (DPR) is currently -17.45%.
Several large investors have recently added to or reduced their stakes in FTR. Steward Partners Investment Advisory LLC acquired a new position in shares of Frontier Communications in the third quarter worth approximately $176,000. Engineers Gate Manager LP acquired a new position in shares of Frontier Communications in the third quarter worth approximately $138,000. Pinnacle Associates Ltd. acquired a new position in shares of Frontier Communications in the third quarter worth approximately $535,000. Virginia Retirement Systems ET AL acquired a new position in shares of Frontier Communications in the third quarter worth approximately $174,000. Finally, SG Americas Securities LLC lifted its stake in shares of Frontier Communications by 109.9% in the third quarter. SG Americas Securities LLC now owns 32,288 shares of the utilities provider’s stock worth $381,000 after acquiring an additional 357,493 shares during the period. Institutional investors own 68.48% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Frontier Communications (FTR) Bonds Drop 1% During Trading” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/02/frontier-communications-ftr-bonds-drop-1-during-trading.html.
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).
Receive News & Stock Ratings for Frontier Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications Corporation and related stocks with our FREE daily email newsletter.