Zacks Investment Research Lowers Telstra (OTCMKTS:TLSYY) to Hold

Zacks Investment Research lowered shares of Telstra (OTCMKTS:TLSYY) from a buy rating to a hold rating in a research report sent to investors on Tuesday, reports.

According to Zacks, “Telstra is Australia’s principal telecommunications company, one of Australia’s largest corporations and one of the best-known brands in the country. Telstra’s fixed telephone network extends across the nation, serving virtually all homes and a substantial majority of Australian businesses. Its mobile networks cover the area in which 91% of Australia’s population lives. “

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Telstra from an overweight rating to a neutral rating in a report on Friday, August 14th. The Goldman Sachs Group lowered shares of Telstra from a conviction-buy rating to a buy rating in a research note on Friday, September 11th.

Shares of OTCMKTS:TLSYY opened at $9.44 on Tuesday. The stock has a market capitalization of $22.45 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 5.81 and a beta of 0.76. Telstra has a 1-year low of $8.35 and a 1-year high of $13.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.65. The company has a 50 day moving average price of $10.03 and a 200 day moving average price of $10.66.

About Telstra

Telstra Corporation Limited provides telecommunications and information services to businesses, governments, and individuals in Australia and internationally. It operates in four segments: Telstra Consumer and Small Business, Telstra Enterprise, Networks and IT, and Telstra InfraCo The company offers telecommunication products, services, and solutions across mobiles, fixed and mobile broadband, telephony and Pay TV/IPTV, and digital content; and online self-service capabilities, as well as operates inbound and outbound call centers, owned and licensed Telstra shops, and the Telstra dealership network.

Read More: Oversold

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