Telefonica SA (NYSE:TEF)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Wednesday, ARN reports. They currently have a $14.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 9.29% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Telefonica. Although the company’s earnings were substantially higher than our projection in the first quarter, the top-line figure fell short. The company is expected to benefit from its various strategic measures to enhance its operations in the European markets and post improved earnings and revenue in the coming days. These steps include expansion of broadband and data services, pricing revision, network enhancements and collaborations with other players. Nevertheless, we remain on the sidelines considering unstable macro conditions, the slowdown in Brazil, effects of reduction in mobile termination rates, a highly leveraged balance sheet and growing competition. Moreover, the numerous initiatives will likely increase commercial expenses, restricting margins in the short term.”
TEF has been the subject of a number of other recent research reports. Analysts at Macquarie upgraded shares of Telefonica SA from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday. Analysts at Sanford C. Bernstein upgraded shares of Telefonica SA from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, April 19th.
Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Telefonica SA currently has a consensus rating of “Hold” and a consensus target price of $58.50.
Shares of Telefonica SA (NYSE: TEF) traded up 0.86% during mid-day trading on Wednesday, hitting $12.92. Telefonica SA has a one year low of $10.06 and a one year high of $15.44. The stock’s 50-day moving average is currently $13.21. The company has a market cap of $57.946 billion and a P/E ratio of 10.91.
Telefonica SA (NYSE:TEF) last announced its earnings results on Wednesday, May 8th. The company reported $0.26 EPS for the quarter. On average, analysts predict that Telefonica SA will post $1.67 earnings per share for the current fiscal year.
Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors.
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