Zacks Investment Research upgraded shares of Telefonica SA (NYSE:TEF) from a hold rating to a buy rating in a report issued on Monday. Zacks Investment Research currently has $12.00 price target on the utilities provider’s stock.
According to Zacks, “Telefonica should benefit from the launch of video services in several Latin-American markets, widespread adoption of broadband and data services, pricing revision, network enhancement and strategic collaborations, continued focus on organic growth and portfolio optimization. Telefonica is also capitalizing on the opportunities in the digital world. However, the company continues to face stiff competition in the domestic and Latin-American markets. Notably, in Latin America, Telefonica competes with large global telecom operators like AT&T and America Movil. The fallout of the company’s IPO plans and downgradation by Moody's Investors Service was a major setback, apart from the company’s debt laden balance sheet. Over the past three months, shares of Telefonica grew 0.6% but failed to beat the 1.7% growth of the industry it belongs to.”
Several other analysts have also issued reports on TEF. Berenberg Bank upgraded shares of Telefonica SA from a hold rating to a buy rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of Telefonica SA from a sell rating to a hold rating in a report on Thursday, July 13th. Citigroup Inc. restated a buy rating on shares of Telefonica SA in a report on Tuesday, July 25th. J P Morgan Chase & Co lowered shares of Telefonica SA from an overweight rating to a neutral rating in a report on Tuesday, September 5th. Finally, ValuEngine upgraded shares of Telefonica SA from a buy rating to a strong-buy rating in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $11.00.
Telefonica SA (NYSE:TEF) opened at 10.43 on Monday. The company has a 50-day moving average of $10.70 and a 200 day moving average of $10.92. The stock has a market cap of $53.43 billion, a P/E ratio of 17.56 and a beta of 1.31. Telefonica SA has a 1-year low of $8.15 and a 1-year high of $11.64.
Telefonica SA (NYSE:TEF) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $14.24 billion during the quarter, compared to analysts’ expectations of $15.01 billion. Telefonica SA had a net margin of 5.18% and a return on equity of 29.02%. Analysts predict that Telefonica SA will post $0.89 EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in TEF. Arrowstreet Capital Limited Partnership increased its stake in shares of Telefonica SA by 244.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,234,111 shares of the utilities provider’s stock worth $54,382,000 after buying an additional 3,713,751 shares during the period. Macquarie Group Ltd. increased its stake in shares of Telefonica SA by 11.0% during the first quarter. Macquarie Group Ltd. now owns 6,756,516 shares of the utilities provider’s stock worth $75,605,000 after buying an additional 667,294 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Telefonica SA during the first quarter worth approximately $6,496,000. FMR LLC increased its stake in shares of Telefonica SA by 2,954.9% during the first quarter. FMR LLC now owns 479,520 shares of the utilities provider’s stock worth $5,366,000 after buying an additional 463,823 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Telefonica SA by 21.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,502,523 shares of the utilities provider’s stock worth $15,611,000 after buying an additional 260,372 shares during the period. Hedge funds and other institutional investors own 0.93% of the company’s stock.
Telefonica SA Company Profile
Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).
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