Telecom Argentina (NYSE:TEO) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Telecom Argentina S.A. (NYSE:TEO - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.81 and traded as high as $11.49. Telecom Argentina shares last traded at $10.75, with a volume of 147,586 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEO. Scotiabank raised their target price on shares of Telecom Argentina from $6.10 to $6.20 and gave the stock a "sector underperform" rating in a report on Thursday. StockNews.com upgraded shares of Telecom Argentina from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a "sell" rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded shares of 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.

Telecom Argentina Price Performance

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 firm has a market cap of $4.79 billion, a price-to-earnings ratio of -61.71 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.

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Telecom Argentina (NYSE:TEO - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.64. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. Equities research analysts anticipate that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Telecom Argentina by 111.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock worth $29,297,000 after buying an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in Telecom Argentina during the fourth quarter worth about $1,031,000. Bank of America Corp DE increased its position in 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 last quarter. Freedom Investment Management Inc. acquired a new stake in Telecom Argentina during the fourth quarter worth about $577,000. Finally, NewEdge Advisors LLC acquired a new stake in Telecom Argentina during the fourth quarter worth about $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.