Zacks Investment Research downgraded shares of Telstra Corp. (OTCMKTS:TLSYY) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Telstra is Australia’s principal telecommunications company, one of Australia’s largest corporations and one of the best-known brands in the country. Telstra’s fixed telephone network extends across the nation, serving virtually all homes and a substantial majority of Australian businesses. Its mobile networks cover the area in which 91% of Australia’s population lives. “

Shares of Telstra Corp. (OTCMKTS:TLSYY) opened at 19.27 on Wednesday. Telstra Corp. has a 52-week low of $17.84 and a 52-week high of $22.04. The stock has a market capitalization of $47.04 billion, a price-to-earnings ratio of 10.77 and a beta of 0.68. The firm’s 50-day moving average is $19.50 and its 200 day moving average is $20.41.

Telstra Corp. Company Profile

Telstra Corporation Limited (Telstra) is a telecommunications and technology company. Its principal activity is to provide telecommunications and information services for domestic and international customers. The Company operates through four segments. The Telstra Retail segment provides telecommunication products, services and solutions across mobiles, fixed and mobile broadband, telephony and Pay television/Internet Protocol television and digital content.

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