Freenet (OTCMKTS:FRTAF) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Freenet (OTCMKTS:FRTAF) released its quarterly earnings results on Thursday. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09), Zacks reports. The company had revenue of $712.21 million for the quarter, compared to analyst estimates of $611.50 million.

Freenet Stock Performance

Shares of FRTAF remained flat at $32.04 during midday trading on Friday. The company has a market cap of $3.81 billion, a PE ratio of 16.69 and a beta of -0.11. The business has a 50-day moving average of $34.46 and a 200 day moving average of $33.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.68 and a quick ratio of 0.64. Freenet has a 12-month low of $30.78 and a 12-month high of $35.41.

Wall Street Analysts Forecast Growth

FRTAF has been the subject of several recent analyst reports. DZ Bank downgraded Freenet from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. UBS Group cut Freenet from a “buy” rating to a “sell” rating in a research note on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freenet in a research note on Wednesday, January 21st. 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 stock. According to MarketBeat, the stock currently has an average rating of “Reduce”.

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.