Telefonica: Increasing High Dividends, Improving Revenue Outlook
Telefonica (TEF) is the world´s fourth largest telecommunications firm in terms of revenue, and second only to AT&T (T) in terms of total profits. On February 26th Telefonica released quarterly and 2009 year end results which beat analysts’ estimates despite a severe recession in its Spanish home market. Additionally, the company issued a forecast for 2010 which calls for total revenue to increase between 1% and 4%, while maintaining its high margins of EBITDA over sales better than 40%.
We believe that Telefonica represents an outstanding ¨income and growth¨ opportunity at current valuations. These are the reasons:
Investing, Long Term Investment, stock market | admin March 1, 2010
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