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Heavy Early Morning Activity On Oi (OIBR)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Oi (OIBR) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Oi as such a stock due to the following factors:

  • OIBR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.5 million.
  • OIBR traded 2.2 million shares today in the pre-market hours as of 8:25 AM, representing 41.4% of its average daily volume.

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More details on OIBR:

Oi S.A., through its subsidiaries, provides integrated telecommunication services for residential customers, companies, and governmental agencies in Brazil. It operates in three segments: Fixed-Line and Data Transmission Services, Mobile Services, and Other Services. The stock currently has a dividend yield of 22.5%. Currently there are no analysts that rate Oi a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Oi has been 4.0 million shares per day over the past 30 days. Oi has a market cap of $2.6 billion and is part of the technology sector and telecommunications industry. Shares are down 60.6% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Oi as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk and generally disappointing historical performance in the stock itself.

Highlights from the ratings report include:

  • OI SA's earnings per share declined by 44.4% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, OI SA reported lower earnings of $0.79 versus $0.92 in the prior year. For the next year, the market is expecting a contraction of 82.7% in earnings ($0.14 versus $0.79).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Diversified Telecommunication Services industry. The net income has significantly decreased by 50.0% when compared to the same quarter one year ago, falling from $154.51 million to $77.31 million.
  • The debt-to-equity ratio is very high at 3.36 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. To add to this, OIBR has a quick ratio of 0.69, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
  • Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 57.96%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 44.44% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • OIBR, with its decline in revenue, slightly underperformed the industry average of 3.4%. Since the same quarter one year prior, revenues slightly dropped by 7.5%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

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