Telecom Argentina (NYSE:TEO) Given New $6.20 Price Target at Scotiabank

Telecom Argentina (NYSE:TEO - Get Free Report) had its target price increased by analysts at Scotiabank from $6.10 to $6.20 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector underperform" rating on the utilities provider's stock. Scotiabank's target price indicates a potential downside of 43.40% from the stock's current price.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. raised Telecom Argentina from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $10.00 to $13.00 in a report on Tuesday, February 25th. The Goldman Sachs Group boosted their price target on Telecom Argentina from $7.30 to $8.30 and gave the company a "sell" rating in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Telecom Argentina from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th.

Telecom Argentina Trading Down 2.6 %

TEO traded down $0.30 during midday trading on Thursday, reaching $10.96. 21,844 shares of the company were exchanged, compared to its average volume of 215,305. Telecom Argentina has a one year low of $5.52 and a one year high of $15.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40. The stock has a market capitalization of $4.72 billion, a P/E ratio of -60.86 and a beta of 0.99. The stock's 50-day simple moving average is $12.12 and its 200 day simple moving average is $10.84.

Remove Ads

Telecom Argentina (NYSE:TEO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.64. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.19 billion. As a group, analysts forecast that Telecom Argentina will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina

Several hedge funds have recently modified their holdings of TEO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Telecom Argentina by 111.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock worth $29,297,000 after purchasing an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC acquired a new stake in shares of Telecom Argentina in the 4th quarter valued at about $1,031,000. Bank of America Corp DE raised its position in shares of Telecom Argentina by 87.0% during the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock worth $260,000 after purchasing an additional 9,621 shares during the period. Freedom Investment Management Inc. acquired a new position in shares of Telecom Argentina during the fourth quarter valued at about $577,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Telecom Argentina during the fourth quarter valued at approximately $202,000.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.