Shares of Telefonica SA (NYSE:TEF) gapped up before the market opened on Monday . The stock had previously closed at $9.76, but opened at $10.01. Telefonica SA shares last traded at $10.27, with a volume of 2,185,315 shares.

TEF has been the subject of several recent analyst reports. Zacks Investment Research upgraded Telefonica SA from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, September 6th. Citigroup Inc. reissued a “buy” rating on shares of Telefonica SA in a research report on Tuesday, July 25th. BidaskClub raised Telefonica SA from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine cut Telefonica SA from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Berenberg Bank raised Telefonica SA from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $11.28.

The stock has a market capitalization of $52.61 billion, a PE ratio of 17.29 and a beta of 1.31. The company’s 50-day moving average is $10.61 and its 200-day moving average is $10.88.

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 analysts’ consensus estimates of $0.18 by ($0.02). Telefonica SA had a return on equity of 29.25% and a net margin of 4.95%. The business had revenue of $14.24 billion for the quarter, compared to the consensus estimate of $15.01 billion. Equities analysts expect that Telefonica SA will post $0.89 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Eagle Ridge Investment Management acquired a new stake in Telefonica SA during the second quarter worth approximately $114,000. Advisor Group Inc. lifted its position in Telefonica SA by 3.1% during the second quarter. Advisor Group Inc. now owns 13,355 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 406 shares during the last quarter. Raymond James Trust N.A. lifted its position in Telefonica SA by 31.9% during the second quarter. Raymond James Trust N.A. now owns 13,452 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 3,252 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Telefonica SA by 0.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,643 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 118 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its position in Telefonica SA by 1.1% during the second quarter. Wedbush Securities Inc. now owns 14,357 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 0.92% of the company’s stock.

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About Telefonica SA

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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