Sanford C. Bernstein Lowers Telefonica (TEF) to Underperform

Telefonica (NYSE:TEF) was downgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a report issued on Monday.

A number of other analysts have also commented on TEF. Berenberg Bank upgraded Telefonica from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Zacks Investment Research lowered Telefonica from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Barclays upgraded Telefonica from an “underweight” rating to an “equal weight” rating in a report on Friday, October 20th. ValuEngine upgraded Telefonica from a “hold” rating to a “buy” rating in a report on Monday, November 20th. Finally, J P Morgan Chase & Co lowered Telefonica from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.70.

Shares of Telefonica (TEF) traded down $0.01 during trading on Monday, reaching $10.07. The company had a trading volume of 1,454,800 shares, compared to its average volume of 1,315,203. The company has a market capitalization of $50,730.69, a price-to-earnings ratio of 5.92 and a beta of 1.29. Telefonica has a 1-year low of $8.67 and a 1-year high of $11.64. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.79.

Several institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of Telefonica in the third quarter valued at $110,000. Cubist Systematic Strategies LLC raised its stake in shares of Telefonica by 700.1% in the third quarter. Cubist Systematic Strategies LLC now owns 90,189 shares of the utilities provider’s stock valued at $973,000 after buying an additional 78,917 shares during the period. Greytown Advisors Inc. raised its stake in shares of Telefonica by 93.7% in the third quarter. Greytown Advisors Inc. now owns 85,687 shares of the utilities provider’s stock valued at $925,000 after buying an additional 41,449 shares during the period. Jane Street Group LLC raised its stake in shares of Telefonica by 387.4% in the third quarter. Jane Street Group LLC now owns 300,927 shares of the utilities provider’s stock valued at $3,247,000 after buying an additional 239,185 shares during the period. Finally, OxFORD Asset Management LLP raised its stake in shares of Telefonica by 6.2% in the third quarter. OxFORD Asset Management LLP now owns 238,870 shares of the utilities provider’s stock valued at $2,577,000 after buying an additional 13,926 shares during the period. Hedge funds and other institutional investors own 0.92% of the company’s stock.

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Telefonica 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).

Analyst Recommendations for Telefonica (NYSE:TEF)

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