Telefonica SA (NYSE:TEF) Short Interest Update

Key Points

• Telefonica SA experienced a significant drop in short interest, with a decrease of 28.8% in August, bringing total short interest down to 3,110,000 shares.
• Several analysts have adjusted their ratings, with a notable upgrade from Wall Street Zen from "hold" to "buy."
• The company's recent quarterly earnings met expectations, reporting $0.08 EPS and revenue of $10.28 billion, surpassing estimates of $9.03 billion.

Telefonica SA (NYSE:TEF - Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 3,110,000 shares, a decline of 28.8% from the July 31st total of 4,370,000 shares. Based on an average daily trading volume, of 594,400 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily trading volume, of 594,400 shares, the days-to-cover ratio is currently 5.2 days.

Telefonica Price Performance

NYSE:TEF traded down $0.01 during mid-day trading on Friday, reaching $5.37. 999,102 shares of the company were exchanged, compared to its average volume of 551,644. Telefonica has a 12 month low of $3.89 and a 12 month high of $5.72. The company has a fifty day moving average of $5.35 and a 200 day moving average of $5.06. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. The stock has a market cap of $30.45 billion, a PE ratio of -11.19, a PEG ratio of 0.61 and a beta of 0.56.

Telefonica (NYSE:TEF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. Telefonica had a negative net margin of 5.88% and a positive return on equity of 8.57%. The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $9.03 billion. On average, research analysts anticipate that Telefonica will post 0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEF shares. Wall Street Zen raised shares of Telefonica from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DZ Bank lowered shares of Telefonica from a "hold" rating to a "strong sell" rating in a report on Friday, May 16th. Finally, Berenberg Bank raised shares of Telefonica to a "hold" rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Telefonica has a consensus rating of "Reduce".

Institutional Investors Weigh In On Telefonica

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in Telefonica by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,243,236 shares of the utilities provider's stock valued at $29,093,000 after purchasing an additional 1,065,861 shares during the period. Northern Trust Corp lifted its position in Telefonica by 0.4% during the 1st quarter. Northern Trust Corp now owns 3,638,295 shares of the utilities provider's stock valued at $16,954,000 after purchasing an additional 15,707 shares during the period. American Century Companies Inc. lifted its position in Telefonica by 17.8% during the 2nd quarter. American Century Companies Inc. now owns 1,752,600 shares of the utilities provider's stock valued at $9,166,000 after purchasing an additional 265,090 shares during the period. Carrera Capital Advisors acquired a new position in Telefonica during the 2nd quarter valued at about $5,440,000. Finally, Nia Impact Advisors LLC lifted its position in Telefonica by 11.5% during the 4th quarter. Nia Impact Advisors LLC now owns 982,717 shares of the utilities provider's stock valued at $3,951,000 after purchasing an additional 101,030 shares during the period. Institutional investors own 1.14% of the company's stock.

About Telefonica

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.