Freenet (OTCMKTS:FRTAF) Hits New 12-Month Low – Here’s Why

Freenet AG (OTCMKTS:FRTAF)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.77 and last traded at $29.77, with a volume of 300 shares traded. The stock had previously closed at $34.78.

Wall Street Analyst Weigh In

Several research firms recently commented on FRTAF. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freenet in a research note on Wednesday, January 21st. UBS Group downgraded shares of Freenet from a “buy” rating to a “sell” rating in a research note on Wednesday, February 18th. Finally, DZ Bank cut Freenet from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Freenet Trading Down 7.1%

The stock has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $33.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.64 and a current ratio of 0.68. The firm has a market cap of $3.54 billion, a P/E ratio of 11.45 and a beta of -0.11.

Freenet (OTCMKTS:FRTAF) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Freenet had a net margin of 11.14% and a return on equity of 18.46%. The business had revenue of $712.21 million for the quarter, compared to the consensus estimate of $611.50 million.

About Freenet

Freenet AG is a Germany-based telecommunications and digital services provider offering a broad portfolio of consumer and business solutions. The company specializes in distributing mobile communications services, including contract and prepaid offerings from major network operators, as well as providing broadband internet access, cable and IPTV television, and related hardware such as routers and set-top boxes. Through its digital lifestyle segment, Freenet AG also delivers value-added services and digital content, ranging from music and video streaming to online gaming and e-books.

In its mobile communications division, Freenet AG acts as a sales and service partner for leading German network operators, managing customer acquisition, billing, and technical support.