Telefonica (NYSE:TEF) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Telefonica (NYSE:TEF) from a hold rating to a sell rating in a research report sent to investors on Sunday.

A number of other equities research analysts also recently commented on TEF. BNP Paribas Exane began coverage on Telefonica in a report on Tuesday, October 21st. They set an “underperform” rating and a $4.20 target price for the company. BNP Paribas upgraded shares of Telefonica to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Telefonica in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus price target of $4.20.

Telefonica Trading Down 3.1%

NYSE TEF opened at $4.15 on Friday. Telefonica has a 12-month low of $3.89 and a 12-month high of $5.72. The company has a fifty day simple moving average of $4.94 and a two-hundred day simple moving average of $5.15. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.47. The stock has a market cap of $23.53 billion, a P/E ratio of -8.64, a P/E/G ratio of 0.59 and a beta of 0.48.

Telefonica (NYSE:TEF) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Telefonica had a negative net margin of 5.88% and a positive return on equity of 8.57%. The firm had revenue of $10.32 billion for the quarter, compared to analyst estimates of $9 billion. On average, analysts forecast that Telefonica will post 0.3 earnings per share for the current year.

Institutional Trading of Telefonica

A number of hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI grew its position in Telefonica by 367.7% during the third quarter. National Bank of Canada FI now owns 4,897 shares of the utilities provider’s stock valued at $25,000 after buying an additional 3,850 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Telefonica during the 2nd quarter valued at about $44,000. Momentous Wealth Management Inc. purchased a new position in shares of Telefonica in the 3rd quarter valued at about $51,000. Wrapmanager Inc. acquired a new position in Telefonica in the 2nd quarter worth about $53,000. Finally, AlphaCore Capital LLC purchased a new position in Telefonica during the second quarter worth approximately $55,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

About Telefonica

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.