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Portugal Telecom, SGPS (NYSE:PT)’s share price reached a new 52-week low during mid-day trading on Tuesday , ARN reports. The company traded as low as $3.41 and last traded at $3.43, with a volume of 1,735,911 shares changing hands. The stock had previously closed at $3.66.

Separately, analysts at Berenberg Bank downgraded shares of Portugal Telecom, SGPS from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.48.

The stock has a 50-day moving average of $3.79 and a 200-day moving average of $4.2. The company has a market cap of $2.950 billion and a price-to-earnings ratio of 8.88.

Portugal Telecom SGPS SA (NYSE:PT) provides a range of telecommunications and multimedia services in Portugal and other countries or regions, including Brazil and Africa.

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