Frontier Communications (FTR) Bonds Rise 1.8% During Trading

An issue of Frontier Communications (NASDAQ:FTR) bonds rose 1.8% against their face value during trading on Friday. 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 $77.25 and was trading at $75.38 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

Several analysts have recently issued reports on the stock. BidaskClub raised shares of Frontier Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research report on Tuesday, January 9th. Guggenheim assumed coverage on shares of Frontier Communications in a research report on Tuesday, March 13th. They set a “sell” rating and a $6.00 price target on the stock. Vetr raised shares of Frontier Communications from a “hold” rating to a “buy” rating and set a $9.22 price target on the stock in a research report on Wednesday, February 21st. Finally, Morgan Stanley reduced their price target on shares of Frontier Communications from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, March 19th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Frontier Communications has a consensus rating of “Hold” and a consensus target price of $9.39.

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Shares of FTR stock traded down $0.05 during trading hours on Friday, reaching $7.72. 2,118,857 shares of the stock were exchanged, compared to its average volume of 3,141,221. The company has a debt-to-equity ratio of 7.46, a quick ratio of 0.53 and a current ratio of 0.53. Frontier Communications has a 12-month low of $6.08 and a 12-month high of $31.95. The firm has a market capitalization of $617.15, a price-to-earnings ratio of -2.04 and a beta of 0.66.

Frontier Communications (NASDAQ:FTR) last announced its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.12) by $0.53. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Frontier Communications had a negative net margin of 19.76% and a negative return on equity of 3.95%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) earnings per share. equities analysts forecast that Frontier Communications will post -2.33 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in FTR. SG Americas Securities LLC increased its position 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 valued at $381,000 after buying an additional 357,493 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Frontier Communications during the 3rd quarter worth about $174,000. Engineers Gate Manager LP purchased a new stake in Frontier Communications during the 3rd quarter worth about $138,000. Steward Partners Investment Advisory LLC purchased a new stake in Frontier Communications during the 3rd quarter worth about $176,000. Finally, Nisa Investment Advisors LLC increased its position in Frontier Communications by 40.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 84,600 shares of the utilities provider’s stock worth $572,000 after purchasing an additional 24,171 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

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Frontier Communications Company Profile

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.

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