Berenberg Bank Upgrades Telefonica (NYSE:TEF) to Hold

Telefonica (NYSE:TEF) was upgraded by investment analysts at Berenberg Bank to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. DZ Bank cut Telefonica from a “hold” rating to a “strong sell” rating in a research report on Friday, May 16th. Sanford C. Bernstein assumed coverage on Telefonica in a research report on Tuesday, April 22nd. They issued a “market perform” rating for the company. Finally, Wall Street Zen raised Telefonica from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Telefonica has an average rating of “Hold”.

Telefonica Price Performance

TEF opened at $5.20 on Thursday. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of -13.67, a PEG ratio of 0.82 and a beta of 0.46. Telefonica has a 1 year low of $3.89 and a 1 year high of $5.48. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $5.13 and a 200 day moving average price of $4.60.

Telefonica (NYSE:TEF) last announced its quarterly earnings results on Wednesday, May 14th. The utilities provider reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. Telefonica had a positive return on equity of 9.30% and a negative net margin of 4.52%. The company had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Analysts forecast that Telefonica will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Telefonica

Several large investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its position in shares of Telefonica by 0.5% during the 4th quarter. Stifel Financial Corp now owns 464,198 shares of the utilities provider’s stock worth $1,866,000 after purchasing an additional 2,478 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Telefonica by 71.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,236 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 2,603 shares during the last quarter. Gitterman Wealth Management LLC lifted its position in shares of Telefonica by 8.5% during the 4th quarter. Gitterman Wealth Management LLC now owns 41,311 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 3,246 shares during the last quarter. Cromwell Holdings LLC lifted its position in shares of Telefonica by 50.4% during the 1st quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 3,361 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in shares of Telefonica by 0.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 391,277 shares of the utilities provider’s stock worth $1,573,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 1.14% of the company’s stock.

Telefonica Company Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.