New Street Research Downgrades Telefónica (NYSE:TEF) to Neutral

Telefónica (NYSE:TEFGet Rating) was downgraded by equities researchers at New Street Research from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, The Fly reports.

Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Telefónica from a “sell” rating to a “hold” rating and set a $5.00 price target for the company in a research report on Tuesday, February 1st. StockNews.com lowered Telefónica from a “buy” rating to a “hold” rating in a research note on Monday, March 28th. JPMorgan Chase & Co. boosted their price objective on Telefónica from €3.70 ($3.98) to €4.30 ($4.62) and gave the stock an “underweight” rating in a research note on Tuesday, March 29th. Morgan Stanley boosted their price objective on Telefónica from €4.60 ($4.95) to €4.80 ($5.16) and gave the stock an “equal weight” rating in a research note on Thursday, March 31st. Finally, Barclays lowered their price objective on Telefónica from €4.20 ($4.52) to €4.00 ($4.30) in a research note on Friday, April 1st. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.48.

Shares of TEF traded down $0.02 during trading hours on Tuesday, hitting $5.31. 72,155 shares of the stock were exchanged, compared to its average volume of 2,033,807. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.91 and a current ratio of 0.98. Telefónica has a 12-month low of $4.10 and a 12-month high of $5.39. The company has a market cap of $30.69 billion, a price-to-earnings ratio of 3.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.66. The stock’s 50-day moving average price is $4.75 and its two-hundred day moving average price is $4.56.

Telefónica (NYSE:TEFGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The utilities provider reported $0.08 EPS for the quarter. Telefónica had a return on equity of 9.02% and a net margin of 21.20%. The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $10.62 billion. On average, research analysts expect that Telefónica will post 0.32 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in Telefónica during the 4th quarter worth about $39,000. Concord Wealth Partners lifted its stake in Telefónica by 722.5% during the 4th quarter. Concord Wealth Partners now owns 9,401 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 8,258 shares in the last quarter. UMB Bank N A MO acquired a new position in Telefónica during the 4th quarter worth about $40,000. Roosevelt Investment Group LLC purchased a new stake in Telefónica during the 4th quarter worth about $44,000. Finally, United Capital Financial Advisers LLC purchased a new stake in Telefónica during the 3rd quarter worth about $51,000. 5.96% of the stock is currently owned by institutional investors and hedge funds.

About Telefónica (Get Rating)

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

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