Telefonica SA (NYSE:TEF) Stock Rated “Reduce” by Wall Street Analysts

Shares of Telefonica SA (NYSE:TEF) have been given a consensus recommendation of “Reduce” by the six brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.12.

A number of analysts have weighed in on the company. BNP Paribas Exane upgraded Telefonica to a “neutral” rating and set a $4.40 price target for the company in a report on Wednesday, September 9th. New Street Research downgraded Telefonica from a “reduce” rating to a “sell” rating in a research note on Friday, August 21st.

Telefonica Price Performance

TEF stock opened at $3.81 on Wednesday. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 0.26 and a beta of 0.29. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 1.44. Telefonica has a 12-month low of $3.80 and a 12-month high of $5.72. The company’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.81.

Institutional Investors Weigh In On Telefonica

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Telefonica by 52.5% during the 1st quarter. Assetmark Inc. now owns 266,549 shares of the utilities provider’s stock worth $1,016,000 after buying an additional 91,749 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Telefonica by 178.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,732 shares of the utilities provider’s stock valued at $64,000 after acquiring an additional 10,075 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Telefonica by 105.6% during the 2nd quarter. GAMMA Investing LLC now owns 11,352 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 5,831 shares during the period. Finally, Cozad Asset Management Inc. lifted its position in shares of Telefonica by 11.2% during the 1st quarter. Cozad Asset Management Inc. now owns 36,638 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 3,684 shares during the period. 1.14% of the stock is currently owned by institutional investors.

About Telefonica

Telefónica is a telecommunications company based in Madrid, Spain. Founded in 1924, it provides fixed-line and mobile connectivity, broadband internet, fiber-optic services, and pay television, along with digital services such as cybersecurity, cloud computing, and the Internet of Things. The company serves consumers, businesses, and public-sector organizations across Europe and Latin America. Its principal markets include Spain, Germany, and Brazil, and it participates in the U.K. market through its joint venture with Liberty Global.