An issue of Frontier Communications Corp (NASDAQ:FTR) bonds rose 3.3% against their face value during trading on Thursday. The debt issue has a 7.625% coupon and is set to mature on April 15, 2024. The debt is now trading at $63.25 and was trading at $62.47 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
FTR has been the subject of several recent research reports. Vetr lowered shares of Frontier Communications from a “buy” rating to a “hold” rating and set a $9.22 price objective for the company. in a research note on Thursday. BidaskClub raised shares of Frontier Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. lowered shares of Frontier Communications from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $17.00 to $8.00 in a research note on Wednesday, November 1st. UBS Group lowered their price objective on shares of Frontier Communications from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 1st. Finally, Gabelli lowered shares of Frontier Communications from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. Frontier Communications has a consensus rating of “Hold” and a consensus price target of $9.49.
Shares of Frontier Communications Corp (NASDAQ FTR) opened at $9.22 on Friday. The firm has a market cap of $750.24, a P/E ratio of -0.67 and a beta of 0.67. Frontier Communications Corp has a 1-year low of $6.08 and a 1-year high of $51.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 5.16.
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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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