Vodafone Group (NASDAQ:VOD) Upgraded by New Street Research to “Buy” Rating

New Street Research upgraded shares of Vodafone Group (NASDAQ:VOD) from a neutral rating to a buy rating in a research note issued to investors on Friday, MarketBeat reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings cut Vodafone Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Wall Street Zen raised Vodafone Group from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. DZ Bank cut Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. UBS Group upgraded Vodafone Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Bank of America downgraded shares of Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 price target on the stock. in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Vodafone Group has an average rating of “Reduce” and an average price target of $52.38.

Vodafone Group Trading Up 12.5%

NASDAQ VOD opened at $14.72 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Vodafone Group has a 12-month low of $10.66 and a 12-month high of $16.60. The company has a fifty day simple moving average of $14.66 and a two-hundred day simple moving average of $14.66.

Vodafone Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, June 5th will be issued a $0.2766 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a yield of 376.0%.

Institutional Investors Weigh In On Vodafone Group

Several hedge funds have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of Vodafone Group during the 3rd quarter worth approximately $7,492,000. Centiva Capital LP purchased a new stake in Vodafone Group in the 3rd quarter worth $1,232,000. Robertson Stephens Wealth Management LLC purchased a new stake in Vodafone Group in the 4th quarter worth $922,000. Gateway Investment Advisers LLC raised its position in Vodafone Group by 68.0% during the fourth quarter. Gateway Investment Advisers LLC now owns 352,038 shares of the cell phone carrier’s stock worth $4,650,000 after acquiring an additional 142,440 shares during the period. Finally, Capitolis Liquid Global Markets LLC purchased a new position in Vodafone Group during the third quarter valued at $23,495,000. 7.84% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Vodafone Group

Here are the key news stories impacting Vodafone Group this week:

• Positive Sentiment: French telecom billionaire Xavier Niel agreed to buy Emirates Telecommunications’ entire 16.2% stake in Vodafone for about $5.9 billion, making him Vodafone’s largest shareholder and signaling renewed strategic interest in the company. Reuters article
• Positive Sentiment: Market sentiment improved further after New Street Research upgraded Vodafone from “neutral” to “buy,” reinforcing the idea that the stock may have more upside following recent restructuring and ownership developments.
• Positive Sentiment: Shares also benefited from broader media coverage of the transaction as a potential catalyst for a European telecom reset, with investors viewing the deal as supportive of Vodafone’s valuation and strategic optionality. RCR Wireless article
• Neutral Sentiment: Vodafone’s move was also part of a broader market bounce in London, with telecom and other large-cap names rising as investors digested deal news and sector developments. Reuters article

About Vodafone Group

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.