Telefonica (NYSE:TEF) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Telefonica (NYSE:TEF) from a hold rating to a sell rating in a research note released on Sunday.

TEF has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Telefonica in a research report on Thursday, October 30th. BNP Paribas raised Telefonica to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, BNP Paribas Exane assumed coverage on Telefonica in a research report on Tuesday, October 21st. They set an “underperform” rating and a $4.20 price target for the company. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Telefonica has an average rating of “Strong Sell” and an average target price of $4.20.

Telefonica Stock Down 0.6%

Shares of TEF stock opened at $4.27 on Friday. Telefonica has a 12-month low of $3.89 and a 12-month high of $5.72. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average of $4.98 and a 200-day moving average of $5.16. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of -8.89, a P/E/G ratio of 0.59 and a beta of 0.48.

Telefonica (NYSE:TEF) last released its earnings results on Tuesday, November 4th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefonica had a positive return on equity of 8.57% and a negative net margin of 5.88%.The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $9 billion. As a group, equities research analysts predict that Telefonica will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telefonica

A number of institutional investors have recently bought and sold shares of TEF. Bank of New York Mellon Corp lifted its position in shares of Telefonica by 10.0% in the first quarter. Bank of New York Mellon Corp now owns 140,352 shares of the utilities provider’s stock valued at $654,000 after buying an additional 12,784 shares during the last quarter. Cerity Partners LLC raised its holdings in Telefonica by 65.0% in the 1st quarter. Cerity Partners LLC now owns 454,853 shares of the utilities provider’s stock valued at $2,120,000 after acquiring an additional 179,119 shares during the period. Gallacher Capital Management LLC boosted its holdings in shares of Telefonica by 9.1% during the first quarter. Gallacher Capital Management LLC now owns 101,461 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 8,440 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Telefonica by 21.0% during the first quarter. Avantax Advisory Services Inc. now owns 22,603 shares of the utilities provider’s stock worth $105,000 after buying an additional 3,924 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Telefonica by 68.1% in the 1st quarter. Assetmark Inc. now owns 23,512 shares of the utilities provider’s stock valued at $110,000 after buying an additional 9,521 shares during the period. Institutional investors and hedge funds own 1.14% of the company’s stock.

Telefonica Company Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.