Telefonica SA Given “Neutral” Rating at Zacks (TEF)
Telefonica SA (NYSE:TEF)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Tuesday, Analyst RN reports. They currently have a $17.00 price target on the stock. Zacks‘ target price points to a potential upside of 5.26% from the stock’s previous close.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Telefonica. Although the company’s earnings were in line with our projection in the second quarter, the top line fell short. The company is expected to benefit from its strategic measures in the European markets, including expansion of broadband and data services, pricing revision, network enhancement and collaboration with other players. Continuous expansion of LTE network and in Latin American markets bodes well for the company. Nevertheless, we remain on the sidelines considering the gradual recovery in Europe, heavy investments in network, effects of reduction in mobile termination rates, a highly leveraged balance sheet and growing competition. Moreover, the company’s initiatives will likely increase commercial expenses, restricting margins in the short term.”
Shares of Telefonica SA (NYSE:TEF) traded down 0.37% on Tuesday, hitting $16.09. 771,414 shares of the company’s stock traded hands. Telefonica SA has a 52 week low of $12.31 and a 52 week high of $16.33. The stock has a 50-day moving average of $14.7 and a 200-day moving average of $14.03. The company has a market cap of $72.853 billion and a price-to-earnings ratio of 14.34.
Telefonica SA (NYSE:TEF) last announced its earnings results on Thursday, July 25th. The company reported $0.33 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.33.
A number of other analysts have also recently weighed in on TEF. Analysts at Citigroup Inc. downgraded shares of Telefonica SA from a “hold” rating to a “sell” rating in a research note to investors on Wednesday, August 7th. Analysts at Macquarie upgraded shares of Telefonica SA from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $59.50.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors.
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