Swisscom (OTCMKTS:SCMWY) Reaches New 1-Year High – Here’s What Happened

Swisscom AG (OTCMKTS:SCMWY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $91.8972 and last traded at $91.8972, with a volume of 1413 shares. The stock had previously closed at $91.19.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Swisscom from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Swisscom has an average rating of “Hold”.

Swisscom Price Performance

The firm has a fifty day simple moving average of $76.53 and a 200 day simple moving average of $74.18. The company has a market capitalization of $475.12 billion, a price-to-earnings ratio of 30.99 and a beta of 0.26.

About Swisscom

Swisscom AG is Switzerland’s leading telecommunications provider, offering a broad range of consumer and business communications services. Its core activities include mobile and fixed-line telephony, broadband internet, and digital television for residential customers, together with comprehensive information and communications technology (ICT) solutions for corporate and public-sector clients. The company also develops and markets cloud computing, data center, IoT and cybersecurity services, and supplies wholesale network access to other operators and service providers.

Swisscom’s origins lie in the Swiss state telecommunications system; over time it evolved from a government monopoly into a partly privatized joint-stock company while remaining majority-owned by the Swiss Confederation.