Telecom Italia (TI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Telecom Italia (NYSE:TI) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “

Other equities research analysts have also issued reports about the stock. BNP Paribas reiterated an underperform rating on shares of Telecom Italia in a research note on Tuesday, September 4th. Barclays lowered shares of Telecom Italia from an equal weight rating to an underweight rating in a research note on Monday, October 1st. Finally, Citigroup upgraded shares of Telecom Italia from a sell rating to a neutral rating in a research note on Monday, September 10th. Six research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Telecom Italia presently has a consensus rating of Hold and an average target price of $9.02.

TI traded down $0.28 during mid-day trading on Friday, reaching $5.96. 213,609 shares of the company traded hands, compared to its average volume of 245,915. The firm has a market cap of $13.59 billion, a PE ratio of 8.76 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. Telecom Italia has a 52-week low of $5.44 and a 52-week high of $11.28.

A number of institutional investors and hedge funds have recently made changes to their positions in TI. CWM LLC increased its stake in shares of Telecom Italia by 31.9% in the 3rd quarter. CWM LLC now owns 573,494 shares of the utilities provider’s stock worth $3,441,000 after purchasing an additional 138,789 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Telecom Italia in the 2nd quarter worth $1,498,000. Bank of New York Mellon Corp increased its stake in shares of Telecom Italia by 34.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 64,620 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 16,607 shares in the last quarter. Tuttle Tactical Management purchased a new stake in shares of Telecom Italia in the 2nd quarter worth $179,000. Finally, Wetherby Asset Management Inc. purchased a new stake in shares of Telecom Italia in the 2nd quarter worth $106,000. Institutional investors and hedge funds own 0.78% of the company’s stock.

About Telecom Italia

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, the Mediterranean Basin, and South America. It offers landline and mobile telecommunications, voice, messaging, data, Internet, and broadband services for consumers, as well as for small and medium-size enterprises, small offices/home offices, public sector clients, large accounts, and enterprises in the fixed and mobile telecommunications markets.

Featured Article: Earnings Per Share (EPS)

Get a free copy of the Zacks research report on Telecom Italia (TI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Telecom Italia (NYSE:TI)

Receive News & Ratings for Telecom Italia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Italia and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply