Frontier Communications (FTR) Debt Trading 1.4% Lower

An issue of Frontier Communications (NASDAQ:FTR) bonds fell 1.4% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 9% coupon and will mature on August 15, 2031. The debt is now trading at $68.00 and was trading at $69.00 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

FTR has been the topic of several recent analyst reports. Vetr cut shares of Frontier Communications from a “strong-buy” rating to a “buy” rating and set a $9.22 price objective on the stock. in a research report on Monday, January 29th. BidaskClub cut shares of Frontier Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. Jefferies Group cut shares of Frontier Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th. Citigroup cut shares of Frontier Communications from a “neutral” rating to a “sell” rating and set a $13.75 price objective on the stock. in a research report on Wednesday, May 9th. Finally, Guggenheim reiterated a “sell” rating and set a $6.00 price objective on shares of Frontier Communications in a research report on Tuesday, May 8th. Seven equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.73.

FTR traded down $0.02 during trading hours on Friday, hitting $9.27. The company’s stock had a trading volume of 1,446,168 shares, compared to its average volume of 3,200,356. Frontier Communications has a 12 month low of $6.08 and a 12 month high of $23.10. The stock has a market capitalization of $751.69 million, a PE ratio of -2.45 and a beta of 0.63. The company has a debt-to-equity ratio of 6.87, a quick ratio of 0.45 and a current ratio of 0.45.



Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, May 1st. The utilities provider reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.25. Frontier Communications had a negative net margin of 19.05% and a negative return on equity of 3.06%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Frontier Communications’s quarterly revenue was down 6.7% on a year-over-year basis. research analysts forecast that Frontier Communications will post -2.24 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in Frontier Communications during the fourth quarter worth $105,000. Nomura Asset Management Co. Ltd. purchased a new position in Frontier Communications during the first quarter worth $114,000. Sciencast Management LP purchased a new position in Frontier Communications during the fourth quarter worth $115,000. Edgestream Partners L.P. purchased a new position in Frontier Communications during the fourth quarter worth $117,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Frontier Communications during the first quarter worth $119,000. 68.69% of the stock is owned by institutional investors.

About Frontier Communications

Frontier Communications Corporation provides communications services to consumer, commercial, and wholesale customers in the United States. It offers broadband, video, voice, and other services and products through a combination of fiber and copper based networks to consumer customers. The company also provides broadband, Ethernet, traditional circuit-based, and voice services; and software defined wide area network, multiprotocol label switching, and time division multiplexing data transport and optical transport services to small, medium, and large enterprises, as well as advanced hardware and network solutions and services, and customer premise equipment.

Receive News & Ratings for Frontier Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Frontier Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply