Telefónica (NYSE:TEF) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of Telefónica (NYSE:TEF) to a hold rating in a report issued on Wednesday, Zacks.com reports.

TEF has been the subject of several other research reports. StockNews.com downgraded Telefónica from a buy rating to a hold rating in a research report on Friday. HSBC upgraded Telefónica from a reduce rating to a hold rating in a report on Wednesday. Bank of America lowered shares of Telefónica from a buy rating to a neutral rating in a research note on Friday, August 2nd. New Street Research downgraded shares of Telefónica from a strong-buy rating to a hold rating in a research note on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Telefónica from a hold rating to a sell rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of Hold.

Telefónica Price Performance

TEF opened at $4.75 on Wednesday. Telefónica has a 52-week low of $3.71 and a 52-week high of $4.93. The company has a 50 day moving average of $4.62 and a two-hundred day moving average of $4.47. The company has a market cap of $26.90 billion, a P/E ratio of -29.66 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 posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.11 earnings per share for the quarter, beating 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. On average, analysts expect that Telefónica will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Telefónica

Several institutional investors and hedge funds have recently made changes to their positions in TEF. EverSource Wealth Advisors LLC lifted its position 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 worth $25,000 after buying an additional 3,590 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Telefónica by 113.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 3,135 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefónica during the 1st quarter valued at $34,000. HighPoint Advisor Group LLC acquired a new stake in Telefónica in the 4th quarter valued at about $45,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Telefónica during the second quarter valued at approximately $45,000. 1.14% of the stock is currently owned by hedge funds and other institutional investors.

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.