Freenet AG (OTCMKTS:FRTAF) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Freenet AG has received a consensus recommendation of "Reduce" from six research firms, with two analysts giving a sell rating, three a hold rating, and one a buy rating.
• The company's earnings report revealed $0.62 earnings per share, missing the consensus estimate of $0.79, despite revenue of $738.67 million surpassing expectations.
• Freenet's stock opened at $33.89 and has a market capitalization of $4.03 billion, alongside a P/E ratio of 15.99.

Shares of Freenet AG (OTCMKTS:FRTAF - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the six research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company.

Several equities research analysts have issued reports on the stock. HSBC cut shares of Freenet to a "hold" rating in a research note on Wednesday, May 7th. Oddo Bhf cut shares of Freenet to an "underperform" rating in a research note on Thursday, May 22nd. Finally, Citigroup cut shares of Freenet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 29th.

Freenet Stock Performance

OTCMKTS:FRTAF opened at $33.89 on Wednesday. The firm has a 50-day moving average price of $34.13 and a two-hundred day moving average price of $34.82. Freenet has a twelve month low of $33.89 and a twelve month high of $40.00. The company has a market capitalization of $4.03 billion, a P/E ratio of 15.99 and a beta of -0.12.

Freenet (OTCMKTS:FRTAF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.17). The business had revenue of $738.67 million for the quarter, compared to analysts' expectations of $622.70 million.

Freenet Company Profile

freenet AG provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany. It operates through Mobile Communications, TV and Media, and Other/Holding segments. The Mobile Communications segment engages in the marketing of mobile communications services, which include voice and data services from the mobile network operators; planning, set up, installation, and maintenance services for WiFi networks; and selling and distribution of mobile devices, as well as offers additional services for mobile data communications and digital lifestyle.

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