Freenet AG (OTCMKTS:FRTAF) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Freenet AG (OTCMKTS:FRTAF) have been assigned an average rating of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company.

Several equities analysts have recently issued reports on the stock. HSBC downgraded shares of Freenet to a “hold” rating in a research note on Wednesday, May 7th. Oddo Bhf downgraded shares of Freenet to an “underperform” rating in a research note on Thursday, May 22nd. Finally, Citigroup downgraded shares of Freenet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 29th.

Freenet Stock Performance

FRTAF stock opened at $33.89 on Wednesday. The company has a fifty day moving average price of $33.89 and a 200-day moving average price of $34.91. The company has a market capitalization of $4.03 billion, a P/E ratio of 15.99 and a beta of -0.12. Freenet has a 52-week low of $33.89 and a 52-week high of $40.00.

Freenet (OTCMKTS:FRTAF) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.17). The firm had revenue of $738.67 million for the quarter, compared to analysts’ expectations of $622.70 million.

Freenet Company Profile

freenet AG provides telecommunications, broadcasting, and multimedia services for mobile communications/mobile internet, and digital lifestyle sectors in Germany. It operates through Mobile Communications, TV and Media, and Other/Holding segments. The Mobile Communications segment engages in the marketing of mobile communications services, which include voice and data services from the mobile network operators; planning, set up, installation, and maintenance services for WiFi networks; and selling and distribution of mobile devices, as well as offers additional services for mobile data communications and digital lifestyle.