An issue of Frontier Communications Corporation (NASDAQ:FTR) bonds rose 1.6% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 8.5% coupon and will mature on April 15, 2020. The bonds in the issue are now trading at $88.50 and were trading at $87.50 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

FTR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Tuesday, January 9th. BidaskClub cut shares of Frontier Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Deutsche Bank cut their price objective on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, October 10th. JPMorgan Chase & Co. cut shares of Frontier Communications from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $17.00 to $8.00 in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada restated a “hold” rating and set a $16.00 price objective on shares of Frontier Communications in a research note on Sunday, September 17th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.77.

Frontier Communications Corporation (NASDAQ FTR) traded up $0.58 during trading hours on Monday, reaching $8.30. The company has a market cap of $651.20, a PE ratio of -0.60 and a beta of 0.52. Frontier Communications Corporation has a 1 year low of $6.08 and a 1 year high of $53.85. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.

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 analysts’ consensus estimates of ($0.95) by $0.01. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. Frontier Communications had a negative return on equity of 1.97% and a negative net margin of 9.17%. Frontier Communications’s revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.64) earnings per share. equities analysts expect that Frontier Communications Corporation will post -4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 28.92%. The ex-dividend date was Thursday, December 14th. Frontier Communications’s payout ratio is currently -17.45%.

A number of institutional investors and hedge funds have recently modified their holdings of FTR. Shelton Capital Management purchased a new position in Frontier Communications in the 2nd quarter worth about $111,000. GSA Capital Partners LLP purchased a new position in Frontier Communications in the 2nd quarter worth about $113,000. Quantbot Technologies LP purchased a new position in Frontier Communications in the 3rd quarter worth about $124,000. MML Investors Services LLC increased its stake in Frontier Communications by 204.3% in the 2nd quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 79,473 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Frontier Communications in the 3rd quarter worth about $138,000. 62.90% of the stock is currently owned by hedge funds and other institutional investors.

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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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