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Telefonica SA (NYSE:TEF) was downgraded by investment analysts at Espirito Santo Investment Bank Research from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, reports.

Telefonica SA (NYSE:TEF) traded down 1.37% during mid-day trading on Wednesday, hitting $16.55. 134,315 shares of the company’s stock traded hands. Telefonica SA has a one year low of $12.31 and a one year high of $18.05. The stock has a 50-day moving average of $16. and a 200-day moving average of $15.47. The company has a market cap of $74.773 billion and a P/E ratio of 16.21.

Telefonica SA (NYSE:TEF) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.32 earnings per share (EPS) for the quarter. On average, analysts predict that Telefonica SA will post $1.42 earnings per share for the current fiscal year.

A number of other firms have also recently commented on TEF. Analysts at Raymond James upgraded shares of Telefonica SA from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 14th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Telefonica SA in a research note to investors on Wednesday, January 8th. They now have a $17.00 price target on the stock. Finally, analysts at BNP Paribas downgraded shares of Telefonica SA from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, December 6th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Telefonica SA currently has an average rating of “Hold” and an average target price of $59.50.

Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors.

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