Telefónica (NYSE:TEF) Shares Gap Down to $4.38

Telefónica, S.A. (NYSE:TEF) gapped down prior to trading on Tuesday . The stock had previously closed at $4.38, but opened at $4.28. Telefónica shares last traded at $4.30, with a volume of 260,882 shares changing hands.

Wall Street Analyst Weigh In

TEF has been the topic of a number of recent research reports. StockNews.com upgraded shares of Telefónica from a “hold” rating to a “buy” rating in a report on Saturday, June 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Telefónica from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Telefónica Stock Performance

The stock’s fifty day moving average is $4.46 and its two-hundred day moving average is $4.23. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.25.

Telefónica (NYSE:TEF) last issued its earnings results on Thursday, May 9th. The utilities provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefónica had a negative net margin of 1.57% and a positive return on equity of 7.84%. The business had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.96 billion. On average, analysts predict that Telefónica, S.A. will post 0.34 earnings per share for the current year.

Telefónica Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 18th will be issued a $0.1628 dividend. The ex-dividend date is Tuesday, June 18th. This represents a dividend yield of 5.2%. Telefónica’s dividend payout ratio is currently -143.75%.

Hedge Funds Weigh In On Telefónica

Several institutional investors and hedge funds have recently modified their holdings of TEF. EverSource Wealth Advisors LLC increased its holdings in shares of Telefónica by 171.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 3,590 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Telefónica by 113.9% in the first quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 3,135 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Telefónica in the first quarter valued at about $34,000. D Orazio & Associates Inc. bought a new stake in shares of Telefónica in the fourth quarter valued at about $43,000. Finally, Sapient Capital LLC bought a new stake in shares of Telefónica in the fourth quarter valued at about $45,000. 1.14% of the stock is currently owned by institutional investors and hedge funds.

Telefónica 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.