Singapore Telecommunications (OTCMKTS:SGAPY) Shares Gap Up – Time to Buy?

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) gapped up prior to trading on Thursday . The stock had previously closed at $33.43, but opened at $34.49. Singapore Telecommunications shares last traded at $32.50, with a volume of 5,730 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Phillip Securities upgraded Singapore Telecommunications from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of Singapore Telecommunications to a “hold” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Singapore Telecommunications Trading Down 0.8%

The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $34.64 and a 200-day moving average of $35.80.

About Singapore Telecommunications

Singapore Telecommunications Limited, commonly known as Singtel, is a communications technology group headquartered in Singapore. The company provides mobile and fixed-line telecommunications, broadband, digital television, and related digital services to consumers and businesses. Through its enterprise operations, Singtel also offers information and communications technology services, including cloud computing, cybersecurity, managed connectivity, data-center solutions and digital infrastructure.

Singtel serves customers primarily in Singapore and Australia, where it operates through its Optus business.