Telefonica (NYSE:TEF) Downgraded to Neutral at Bank of America

Bank of America lowered shares of Telefonica (NYSE:TEF) from a buy rating to a neutral rating in a research report report published on Tuesday, Briefing.com Automated Import reports.

Several other research analysts have also recently issued reports on TEF. DZ Bank upgraded shares of Telefonica from a hold rating to a buy rating in a report on Tuesday, May 14th. Zacks Investment Research upgraded shares of Telefonica from a sell rating to a hold rating and set a $8.50 target price for the company in a report on Tuesday, May 28th. UBS Group downgraded shares of Telefonica from a buy rating to a neutral rating in a research report on Thursday, August 8th. ValuEngine upgraded shares of Telefonica from a sell rating to a hold rating in a research report on Wednesday, May 15th. Finally, Deutsche Bank reiterated a buy rating on shares of Telefonica in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Telefonica currently has an average rating of Hold and a consensus target price of $8.50.

Shares of Telefonica stock opened at $6.96 on Tuesday. The firm has a fifty day moving average of $7.95. Telefonica has a 12-month low of $6.88 and a 12-month high of $9.08. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.79 and a current ratio of 0.84. The firm has a market cap of $36.71 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.60 and a beta of 0.67.

Telefonica (NYSE:TEF) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter. Telefonica had a net margin of 7.27% and a return on equity of 16.21%. The business had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.54 billion. Analysts expect that Telefonica will post 0.88 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in TEF. Bank of America Corp DE boosted its position in shares of Telefonica by 10.6% in the fourth quarter. Bank of America Corp DE now owns 609,533 shares of the utilities provider’s stock worth $5,157,000 after acquiring an additional 58,453 shares during the last quarter. Redwood Investment Management LLC purchased a new position in Telefonica in the first quarter valued at approximately $431,000. US Bancorp DE raised its holdings in Telefonica by 4.9% in the first quarter. US Bancorp DE now owns 66,626 shares of the utilities provider’s stock valued at $558,000 after buying an additional 3,141 shares during the period. Zions Bancorporation N.A. purchased a new position in Telefonica in the first quarter valued at approximately $28,000. Finally, Duff & Phelps Investment Management Co. purchased a new position in Telefonica in the first quarter valued at approximately $5,124,000. Hedge funds and other institutional investors own 0.95% of the company’s stock.

Telefonica Company Profile

Telefónica, SA provides mobile and fixed communication services primarily 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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Analyst Recommendations for Telefonica (NYSE:TEF)

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