Swisscom (OTCMKTS:SCMWY) Hits New 1-Year High – Here’s Why

Swisscom AG (OTCMKTS:SCMWY)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $92.54 and last traded at $92.45, with a volume of 1891 shares changing hands. The stock had previously closed at $91.00.

Analysts Set New Price Targets

Separately, Zacks Research raised Swisscom from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Swisscom Stock Down 0.2%

The business has a 50 day moving average of $79.65 and a 200 day moving average of $75.16. The firm has a market cap of $480.87 billion, a price-to-earnings ratio of 31.36 and a beta of 0.27.

About Swisscom

Swisscom AG is Switzerland’s leading telecommunications provider, offering a broad range of consumer and business communications services. Its core activities include mobile and fixed-line telephony, broadband internet, and digital television for residential customers, together with comprehensive information and communications technology (ICT) solutions for corporate and public-sector clients. The company also develops and markets cloud computing, data center, IoT and cybersecurity services, and supplies wholesale network access to other operators and service providers.

Swisscom’s origins lie in the Swiss state telecommunications system; over time it evolved from a government monopoly into a partly privatized joint-stock company while remaining majority-owned by the Swiss Confederation.