Telecom Italia SpA (NYSE:TI) – Investment analysts at Jefferies Financial Group raised their FY2019 earnings per share (EPS) estimates for shares of Telecom Italia in a report issued on Wednesday, June 12th. Jefferies Financial Group analyst J. Dellis now expects that the utilities provider will post earnings of $0.67 per share for the year, up from their prior forecast of $0.56. Jefferies Financial Group also issued estimates for Telecom Italia’s FY2020 earnings at $0.78 EPS.
TI has been the topic of a number of other reports. Canaccord Genuity reissued a “buy” rating and issued a $1.25 price objective on shares of Telecom Italia in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of Telecom Italia from a “sell” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Wednesday, March 27th. Finally, ValuEngine raised shares of Telecom Italia from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.00.
Shares of TI opened at $5.30 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.74 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $11.21 billion, a PE ratio of -7.46 and a beta of 0.69. Telecom Italia has a 52-week low of $4.87 and a 52-week high of $8.05.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Telecom Italia by 13.6% in the 4th quarter. Bank of New York Mellon Corp now owns 73,386 shares of the utilities provider’s stock valued at $407,000 after acquiring an additional 8,766 shares during the last quarter. OLD Mission Capital LLC boosted its stake in shares of Telecom Italia by 153.9% during the 4th quarter. OLD Mission Capital LLC now owns 178,791 shares of the utilities provider’s stock worth $992,000 after purchasing an additional 108,379 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Telecom Italia by 11.7% during the 4th quarter. Cerity Partners LLC now owns 19,969 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 2,086 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new stake in shares of Telecom Italia during the 1st quarter worth about $60,000. Finally, Geode Capital Management LLC boosted its stake in shares of Telecom Italia by 73.4% during the 4th quarter. Geode Capital Management LLC now owns 39,275 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 16,627 shares during the last quarter. 0.83% of the stock is currently owned by hedge funds and other institutional investors.
Telecom Italia Company Profile
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, South America, and the Mediterranean Basin. The company operates through Domestic, Brazil, and Other Operations segments. It offers fixed and mobile voice and Internet, and public telephony services, as well as products managed and developed for individuals and families; and voice, data, and Internet services and products, and information and communications technology solutions for small and medium-size enterprises, small offices/home offices, the public sector, large accounts, and enterprises in the fixed and mobile telecommunications markets.
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