Frontier Communications (FTR) shares are falling after being downgraded to 'underweight' by analysts at Morgan Stanley (MS) on Wednesday. Tony Owusu Sep 3, 2014 9:20 AM EDT
Is Frontier Communications in financial trouble?
Frontier filed for bankruptcy in April 2020 with a plan to cut more than $10 billion of its $17 billion debt load by handing ownership to bondholders. It was the biggest telecom filing since WorldCom in 2002, reflecting years of decline in its business of providing internet, TV and phone service in 29 states.Oct 5, 2021
What's happening with Frontier Communications?
Frontier filed for bankruptcy in April 2020 after telling investors that its financial troubles and customer losses were caused by "significant under-investment in fiber deployment and limited enterprise product offerings." Parts of Frontier's fiber network were installed by Verizon before Verizon sold some of its ...May 4, 2021
What happened to my Frontier Communications stock?
On April 30, as a result of Frontier Communications' successful emergence from its financial structuring, the old common stock of Frontier trading under the symbol “FTR” or “FTRCQ” has been extinguished without any consideration.
Should I buy Frontier Communications stock?
The consensus among Wall Street equities research analysts is that investors should "buy" Frontier Communications Parent stock.
Who is buying Frontier Communications 2021?
What's the news? AT&T* will work with Frontier Communications to bring fiber-optic connectivity to large enterprise customers outside AT&T's current footprint. The two companies signed multi-year strategic agreements that will also support deployment of AT&T's 5G mobility network.Oct 6, 2021
Who will replace Frontier Communications?
Frontier Communications' Northwest operations and assets are now Ziply Fiber. Ziply is a new company that is investing $500 million to improve its network and service. Frontier sold the assets to WaveDivision Capital in partnership with Searchlight Capital Partners for $1.35 billion.May 4, 2020
Is Frontier Communications Going Out of business 2021?
Frontier Communications is set to emerge from Chapter 11 bankruptcy on Friday and return to public stock markets next week. The company has less debt, a new executive team, and a strategy focused on converting its slow and aging copper-based telecom network to a next-generation network built on fiber optic cable.Apr 30, 2021
What is the future of Frontier Communications?
Frontier Communications Accelerates Fiber Build Out to Reach 10 Million Locations By End of 2025Frontier Communications Parent, Inc.June 30, 2021June 30, 2021($ in millions and shares in thousands, except per share amounts)(Successor)(Non-GAAP Combined)Statement of Operations DataRevenue1,0613,29240 more rows•Aug 5, 2021
Did Frontier Communications get bought out?
Ziply Fiber finalized acquisition of Frontier Communications' Northwest operations on May 1, 2020.
Does Frontier Communications pay a dividend?
Historical dividend payout and yield for Frontier Communications (FTRCQ) since 2006. The current TTM dividend payout for Frontier Communications (FTRCQ) as of April 23, 2020 is $0.00. The current dividend yield for Frontier Communications as of April 23, 2020 is 0.00%.
What airline is worth investing in?
The best airline stocksAirlineTickerMarket CapitalizationSouthwest Airlines(NYSE:LUV)$25.47 billionDelta Air Lines(NYSE:DAL)$23.25 billionUnited Airlines Holdings(NASDAQ:UAL)$13.49 billionAmerican Airlines Group(NASDAQ:AAL)$10.54 billion
Is Frontier Communications publicly traded?
Frontier, a widely-held and publicly traded corporation, is a full service communication provider focusing on rural areas and smaller cities and provides an array of telecommunications and broadband Internet access services through its wholly-owned operating companies in 24 states.
What happened
Shares of Frontier Communications (NASDAQ: FTR) fell on Wednesday, sliding as much as 13%. As of 3:36 p.m. EDT, the stock was down 12.2%.
So what
JPMorgan credit analyst Thomas Egan expressed concerns for certain Frontier Communications bonds on Wednesday, saying management needs to follow through with its plan to deliver cash flow with the help of cost cuts.
Now what
Investors' patience has been tested recently. Shares have lost more than 40% over the past three months, with a big portion of that decline coming after Frontier reported a worse-than-expected loss per share for its first quarter.
What happened
Shares of Frontier Communications (NASDAQ: FTR) took a big hit Wednesday, falling as much as 27.7%. As of 12:31 p.m. EDT, the stock was down 25.6%.
So what
Frontier reported first-quarter revenue of $2.1 billion, down from revenue of $2.2 billion in the year-ago quarter. In addition, Frontier lost $87 million, or $0.84 per share. But management noted this loss included $15 million of severance expenses, $20 million for loss on early extinguishable debt, and $18 million of income tax expense.
Now what
Frontier said its transformation program "remains on track," and management maintained its full-year outlook. Frontier forecasts full-year adjusted EBITDA between $3.45 billion and $3.55 billion, capital expenditures of about $1.15 billion, and operating free cash flow between $575 million and $675 million.
How much is Frontier's EBITDA?
Frontier forecasts full-year adjusted EBITDA between $3.45 billion and $3.55 billion, capital expenditures of about $1.15 billion, and operating free cash flow between $575 million and $675 million.
Who is Daniel Sparks?
Daniel Sparks is a senior technology specialist at The Motley Fool. He has previously served in the U.S. Army on active duty and holds an MBA from Colorado State University. Investing is his primary passion. Follow him on Twitter to get links to his articles, quotes from books he reads, and a look at the sources that inspire him. Follow @danielsparks
