Freenet (OTCMKTS:FRTAF) Hits New 12-Month Low – Here’s Why

Freenet AG (OTCMKTS:FRTAF) reached a new 52-week low during trading on Monday . The stock traded as low as $29.77 and last traded at $29.77, with a volume of 300 shares trading hands. The stock had previously closed at $34.78.

Wall Street Analyst Weigh In

A number of brokerages have commented on FRTAF. UBS Group cut shares of Freenet from a “buy” rating to a “sell” rating in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Freenet in a research report on Wednesday, January 21st. Finally, DZ Bank cut Freenet from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Freenet Stock Performance

The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.54 billion, a P/E ratio of 11.45 and a beta of -0.11. The business’s 50 day simple moving average is $34.34 and its 200 day simple moving average is $33.20.

Freenet (OTCMKTS:FRTAF) last posted its quarterly earnings results on Thursday, March 19th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). The firm had revenue of $712.21 million during the quarter, compared to the consensus estimate of $611.50 million. Freenet had a return on equity of 18.46% and a net margin of 11.14%.

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.