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

Telecom Italia (NYSE:TI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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 analysts have also issued reports about the stock. Goldman Sachs Group lowered shares of Telecom Italia from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 27th. Sanford C. Bernstein lowered shares of Telecom Italia from a “market perform” rating to a “sell” rating in a research report on Wednesday, November 14th. Morgan Stanley lowered shares of Telecom Italia from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 13th. TheStreet lowered shares of Telecom Italia from a “c-” rating to a “d” rating in a research report on Friday, November 9th. Finally, Barclays lowered shares of Telecom Italia from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 1st. Seven investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Telecom Italia currently has an average rating of “Sell” and an average price target of $9.02.

NYSE TI traded down $0.01 on Thursday, hitting $6.29. 3,330 shares of the stock were exchanged, compared to its average volume of 199,247. The company has a current ratio of 0.76, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Telecom Italia has a 52 week low of $5.44 and a 52 week high of $11.28. The firm has a market capitalization of $13.38 billion, a P/E ratio of 9.25 and a beta of 0.45.

Hedge funds have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC acquired a new position in shares of Telecom Italia in the second quarter valued at about $104,000. Blair William & Co. IL acquired a new position in shares of Telecom Italia in the third quarter valued at about $178,000. Tuttle Tactical Management acquired a new position in shares of Telecom Italia in the second quarter valued at about $179,000. Bank of New York Mellon Corp grew its stake in shares of Telecom Italia by 34.6% in the third quarter. Bank of New York Mellon Corp now owns 64,620 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 16,607 shares in the last quarter. Finally, First Foundation Advisors grew its stake in shares of Telecom Italia by 123.6% in the third quarter. First Foundation Advisors now owns 139,174 shares of the utilities provider’s stock valued at $835,000 after acquiring an additional 76,933 shares in the last quarter. Institutional investors and hedge funds own 0.80% of the company’s stock.

Telecom Italia Company Profile

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.

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