Telefónica (NYSE:TEF) Upgraded at HSBC

Telefónica (NYSE:TEF) was upgraded by stock analysts at HSBC from a “reduce” rating to a “hold” rating in a research report issued on Wednesday, Briefing.com reports.

TEF has been the topic of several other research reports. New Street Research downgraded Telefónica from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 5th. StockNews.com raised Telefónica from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft cut Telefónica from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. Finally, Bank of America cut Telefónica from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Telefónica Stock Performance

Shares of Telefónica stock traded down $0.05 during trading hours on Wednesday, reaching $4.78. 251,643 shares of the stock traded hands, compared to its average volume of 706,791. The company has a 50 day moving average price of $4.61 and a 200 day moving average price of $4.47. The firm has a market capitalization of $27.10 billion, a price-to-earnings ratio of -29.88 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 has a one year low of $3.71 and a one year high of $4.93.

Telefónica (NYSE:TEF) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Telefónica had a positive return on equity of 9.18% and a negative net margin of 1.62%. The company had revenue of $11.04 billion for the quarter, compared to analysts’ expectations of $10.85 billion. On average, equities research analysts expect that Telefónica will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telefónica

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Telefónica by 171.6% in the 1st 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. increased its position in Telefónica by 113.9% during the first quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock worth $26,000 after buying an additional 3,135 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Telefónica during the first quarter worth $34,000. HighPoint Advisor Group LLC purchased a new position in Telefónica during the fourth quarter worth $45,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in shares of Telefónica in the second quarter valued at $45,000. 1.14% of the stock is 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.