Telefonica SA (TEF) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Telefonica SA (NYSE:TEF) from a hold rating to a buy rating in a research report released on Monday, October 16th. The brokerage currently has $12.00 price target on the utilities provider’s stock.

According to Zacks, “Telefonica should benefit from the launch of video services in several Latin-American markets, widespread adoption of broadband and data services, pricing revision, network enhancement and strategic collaborations, continued focus on organic growth and portfolio optimization. Telefonica is also capitalizing on the opportunities in the digital world. However, the company continues to face stiff competition in the domestic and Latin-American markets. Notably, in Latin America, Telefonica competes with large global telecom operators like AT&T and America Movil. The fallout of the company’s IPO plans and downgradation by Moody's Investors Service was a major setback, apart from the company’s debt laden balance sheet. Over the past three months, shares of Telefonica grew 0.6% but failed to beat the 1.7% growth of the industry it belongs to.”

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Telefonica SA from a strong-buy rating to a buy rating in a report on Friday, September 1st. BidaskClub cut shares of Telefonica SA from a hold rating to a sell rating in a report on Thursday, June 22nd. Citigroup Inc. reissued a buy rating on shares of Telefonica SA in a report on Monday, September 4th. J P Morgan Chase & Co cut shares of Telefonica SA from an overweight rating to a neutral rating in a report on Tuesday, September 5th. Finally, Berenberg Bank raised Telefonica SA from a hold rating to a buy rating in a report on Wednesday, September 27th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Telefonica SA presently has a consensus rating of Buy and a consensus price target of $11.00.

Telefonica SA (NYSE TEF) opened at 10.01 on Monday. The company has a market cap of $51.28 billion, a P/E ratio of 16.85 and a beta of 1.31. Telefonica SA has a 12 month low of $8.15 and a 12 month high of $11.64. The firm has a 50-day moving average price of $10.66 and a 200 day moving average price of $10.90.

Telefonica SA (NYSE:TEF) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $14.24 billion during the quarter, compared to analyst estimates of $15.01 billion. Telefonica SA had a return on equity of 29.46% and a net margin of 4.95%. Equities research analysts predict that Telefonica SA will post $0.89 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new position in Telefonica SA during the 3rd quarter worth approximately $4,476,000. Aperio Group LLC grew its position in Telefonica SA by 14.6% during the 3rd quarter. Aperio Group LLC now owns 1,017,636 shares of the utilities provider’s stock worth $10,980,000 after purchasing an additional 129,466 shares in the last quarter. Boston Advisors LLC purchased a new position in Telefonica SA during the 3rd quarter worth approximately $400,000. Butensky & Cohen Financial Security Inc. grew its position in Telefonica SA by 10.8% during the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 131,928 shares of the utilities provider’s stock worth $1,424,000 after purchasing an additional 12,847 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in Telefonica SA by 3.2% during the 2nd quarter. Advisory Services Network LLC now owns 42,491 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 1,311 shares in the last quarter. Hedge funds and other institutional investors own 0.92% of the company’s stock.

Telefonica SA Company Profile

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).

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