Telecom Italia (TI) Hits New 1-Year Low at $4.88

Telecom Italia SpA (NYSE:TI) reached a new 52-week low during trading on Thursday . The company traded as low as $4.88 and last traded at $4.88, with a volume of 8334 shares changing hands. The stock had previously closed at $4.98.

TI has been the subject of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $1.25 target price on shares of Telecom Italia in a report on Tuesday, February 26th. Zacks Investment Research raised Telecom Italia from a “sell” rating to a “buy” rating and set a $6.75 target price for the company in a report on Wednesday, March 27th. Finally, ValuEngine raised Telecom Italia from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Telecom Italia presently has a consensus rating of “Hold” and an average price target of $4.00.

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.74 and a quick ratio of 0.72.

Large investors have recently added to or reduced their stakes in the company. Covenant Multifamily Offices LLC acquired a new position in shares of Telecom Italia during the 1st quarter worth $60,000. Wetherby Asset Management Inc. raised its stake in shares of Telecom Italia by 20.0% during the 4th quarter. Wetherby Asset Management Inc. now owns 13,033 shares of the utilities provider’s stock worth $72,000 after buying an additional 2,168 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Telecom Italia during the 1st quarter worth $112,000. Cerity Partners LLC raised its stake in shares of Telecom Italia by 11.7% during the 4th quarter. Cerity Partners LLC now owns 19,969 shares of the utilities provider’s stock worth $111,000 after buying an additional 2,086 shares during the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Telecom Italia by 143.6% during the 4th quarter. Virtu Financial LLC now owns 35,620 shares of the utilities provider’s stock worth $198,000 after buying an additional 20,999 shares during the last quarter. 0.83% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Rockland Register and is owned by of Rockland Register. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://rocklandregister.com/2019/06/01/telecom-italia-ti-hits-new-1-year-low-at-4-88.html.

About Telecom Italia (NYSE:TI)

Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, South America, and the Mediterranean Basin. The company operates through Domestic, Brazil, and Other Operations segments. It offers fixed and mobile voice and Internet, and public telephony services, as well as products managed and developed for individuals and families; and voice, data, and Internet services and products, and information and communications technology solutions for small and medium-size enterprises, small offices/home offices, the public sector, large accounts, and enterprises in the fixed and mobile telecommunications markets.

Further Reading: How to invest in a bear market

Receive News & Ratings for Telecom Italia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Italia and related companies with MarketBeat.com's FREE daily email newsletter.