Telecom Argentina (NYSE:TEO) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Telecom Argentina S.A. (NYSE:TEO - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.34 and traded as high as $11.37. Telecom Argentina shares last traded at $10.96, with a volume of 164,979 shares.

Wall Street Analyst Weigh In

TEO has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the company a "sell" rating in a research report on Wednesday. Scotiabank boosted their price objective on Telecom Argentina from $6.10 to $6.20 and gave the company a "sector underperform" rating in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th.

Telecom Argentina Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a market cap of $4.63 billion, a P/E ratio of -59.66 and a beta of 0.94. The firm's fifty day moving average price is $10.85 and its two-hundred day moving average price is $11.42.

Telecom Argentina (NYSE:TEO - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, beating 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 firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.19 billion. As a group, equities research analysts forecast that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Telecom Argentina by 900.3% during the first quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock worth $3,845,000 after purchasing an additional 35,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Telecom Argentina by 111.0% in 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 buying an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC bought a new stake in Telecom Argentina in the 4th quarter worth approximately $1,031,000. Bank of America Corp DE boosted its stake in Telecom Argentina by 87.0% in the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider's stock worth $260,000 after buying an additional 9,621 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new position in Telecom Argentina during the fourth quarter valued at approximately $577,000.

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.