Telefónica (NYSE:TEF) Stock Price Down 1.8%

Telefónica, S.A. (NYSE:TEF)’s stock price traded down 1.8% during trading on Thursday . The stock traded as low as $4.81 and last traded at $4.81. 66,132 shares traded hands during trading, a decline of 91% from the average session volume of 711,821 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. New Street Research cut Telefónica from a “strong-buy” rating to a “hold” rating in a report on Friday, July 5th. Deutsche Bank Aktiengesellschaft lowered Telefónica from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. StockNews.com cut Telefónica from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Bank of America lowered Telefónica from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd.

Telefónica Price Performance

The firm’s 50 day moving average is $4.55 and its 200-day moving average is $4.43. The firm has a market cap of $27.39 billion, a PE ratio of -30.19 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

Telefónica (NYSE:TEF) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. Telefónica had a negative net margin of 1.62% and a positive return on equity of 9.18%. The business had revenue of $11.04 billion for the quarter, compared to analyst estimates of $10.85 billion. As a group, equities research analysts expect that Telefónica, S.A. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Telefónica

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake 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 period. Russell Investments Group Ltd. boosted its position in Telefónica by 113.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock valued at $26,000 after buying an additional 3,135 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Telefónica during the first quarter valued at about $34,000. HighPoint Advisor Group LLC purchased a new stake in shares of Telefónica during the fourth quarter worth about $45,000. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of Telefónica in the second quarter worth about $45,000. 1.14% of the stock is currently owned by institutional investors and hedge funds.

About Telefónica

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.