Telecom Italia SpA (TI) Shares Down 4.1%
Telecom Italia SpA (NYSE:TI) shares fell 4.1% during mid-day trading on Wednesday . The stock traded as low as $7.21 and last traded at $7.26, with a volume of 137,880 shares trading hands. The stock had previously closed at $7.57.
Several brokerages have recently issued reports on TI. JPMorgan Chase & Co. lowered shares of Telecom Italia SpA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Telecom Italia SpA from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Raymond James Financial Inc. reaffirmed a “buy” rating on shares of Telecom Italia SpA in a research note on Monday, May 16th. Finally, Barclays PLC reaffirmed an “equal weight” rating on shares of Telecom Italia SpA in a research note on Monday, March 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Telecom Italia SpA presently has a consensus rating of “Hold” and an average price target of $11.00.
The company has a 50 day moving average of $8.66 and a 200 day moving average of $10.04. The company has a market cap of $14.10 billion and a PE ratio of 45.50.
Telecom Italia SpA is an Italy-based company engaged in the communications sector. It operates in the fixed and mobile national and international telecommunications sector. Its activities are divided into five business units. The Domestic unit provides telephone and data services on fixed line and mobile networks for retail voice customers and wholesale operators, as well as develop fiber optic networks.