Tele Norte Leste Holding Rises On Unusually High Volume (TNE)

NEW YORK ( TheStreet) -- Tele Norte Leste Holding Company (NYSE: TNE) is trading at unusually high volume Thursday with 4.2 million shares changing hands. It is currently at 4.2 times its average daily volume and trading up 20 cents (+2%) at $9.88 as of 1:30 p.m. ET.

Tele Norte Leste Holding has a market cap of $4.38 billion and is part of the technology sector and telecommunications industry. Shares are up 1.8% year to date as of the close of trading on Wednesday.

Tele Norte Leste Participacoes S.A. provides integrated telecommunication services in Brazil. It operates in three segments: Fixed-Line Services, Mobile Services, and Other. The company has a P/E ratio of 17.7, above the average telecommunications industry P/E ratio of 13.3 and equal to the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Tele Norte Leste Holding as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, generally poor debt management and a generally disappointing performance in the stock itself. You can view the full Tele Norte Leste Holding Ratings Report.

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