AllAnalyst Report
logoMorningstarFebruary 26, 2021

Telefónica, S.A.: Telefonica Keeps Reducing Exposure to LATAM; Dividend Reduced to EUR 0.30 Per Share; Maintaining FVE

Symbols
TEF
Sector(s)
Communication Services
Rating
Current Price
$4.43
Fair Value
Economic Moat
Stewardship
Summary

Telefonica is the incumbent telephone operator in Spain, which accounts for about 26% of the group’s sales. Besides Spain; Brazil, Germany and U.K. are key markets. Management intends to spin off its Latin American operations, except Brazil. The firm has launched two new business units: Telefonica Tech and Telefonica Infrastructure. Telefonica Tech, a B2B segment offers cybersecurity, the Internet of Things, big data, and cloud ser

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Analyst Profile

Denise Molina

Director
Denise Molina, CFA, is a director for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. Based in Amsterdam. She covers the industrials sector.Before joining Morningstar in 2016, Molina was an investment analyst at Juno Investment Partners, following industrials and other sectors. Before that, her experience includes 16 years covering telecoms in the United States and Europe on the sell-side at Goldman Sachs and independent research firms.Molina holds a Bachelor of Arts degree from Williams College in Massachusetts. She also holds the Chartered Financial Analyst® designation.