NEW YORK (

TheStreet

) -- Shares of

Portugal Telecom

(NYSE:

PT

) were gapping down Tuesday morning with an open price 13.4% lower than Friday's closing price. The stock closed at $12.59 Friday and opened today's trading at $10.90.

The average volume for Portugal Telecom has been 121,400 shares per day over the past 30 days. Portugal Telecom has a market cap of $11.3 billion and is part of the

technology

sector and

telecommunications

industry. Shares are up 9.9% year to date as of the close of trading on Friday.

Portugal Telecom, SGPS, S.A. provides telecommunications services in Portugal, Brazil, and Africa. The company has a P/E ratio of 26.8, below the average telecommunications industry P/E ratio of 49.4 and above the S&P 500 P/E ratio of 17.7.

TheStreet Recommends

TheStreet Ratings rates Portugal Telecom as a

hold

. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, reasonable valuation levels and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and poor profit margins. You can view the full

Portugal Telecom Ratings Report

.

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