Telstra (OTCMKTS:TLSYY) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Telstra (OTCMKTS:TLSYY) from a hold rating to a sell rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “Telstra is Australia’s principal telecommunications company, one of Australia’s largest corporations and one of the best-known brands in the country. Telstra’s fixed telephone network extends across the nation, serving virtually all homes and a substantial majority of Australian businesses. Its mobile networks cover the area in which 91% of Australia’s population lives. “

A number of other research firms have also recently weighed in on TLSYY. Sanford C. Bernstein cut shares of Telstra from an outperform rating to a market perform rating in a research note on Wednesday, August 21st. UBS Group lowered shares of Telstra from a buy rating to a neutral rating in a report on Monday, July 1st.

Shares of OTCMKTS TLSYY traded up $0.27 during midday trading on Friday, reaching $12.16. 15,383 shares of the company were exchanged, compared to its average volume of 40,901. The stock’s 50-day moving average price is $12.11 and its 200-day moving average price is $12.51. The stock has a market cap of $28.91 billion, a P/E ratio of 19.29, a PEG ratio of 4.88 and a beta of 0.71. Telstra has a one year low of $9.52 and a one year high of $13.67.

About Telstra

Telstra Corporation Limited, together with its subsidiaries, provides telecommunications and information services to businesses, governments, communities, and individuals in Australia and internationally. It operates in four segments: Telstra Consumer and Small Business, Telstra Enterprise, Telstra Operations, and Telstra Wholesale.

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