Telecom Argentina S.A. (NYSE:TEO - Get Free Report) traded down 6.7% during mid-day trading on Wednesday . The company traded as low as $8.78 and last traded at $8.85. 48,262 shares changed hands during trading, a decline of 78% from the average session volume of 214,650 shares. The stock had previously closed at $9.49.
Analysts Set New Price Targets
A number of research firms have recently commented on TEO. JPMorgan Chase & Co. upgraded Telecom Argentina from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $13.00 in a report on Tuesday, February 25th. Scotiabank increased their target price on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a "sector underperform" rating in a research report on Thursday, March 13th.
Get Our Latest Analysis on TEO
Telecom Argentina Price Performance
The stock's 50-day moving average price is $10.93 and its 200 day moving average price is $11.33. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -61.55 and a beta of 0.94. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.
Telecom Argentina (NYSE:TEO - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.47) by $0.64. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.19 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. Equities research analysts predict that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.
Hedge Funds Weigh In On Telecom Argentina
Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 period. Bosun Asset Management LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter worth approximately $1,031,000. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Telecom Argentina in the 4th quarter valued at approximately $853,000. Freedom Investment Management Inc. purchased a new position in Telecom Argentina during the 4th quarter valued at $577,000. Finally, GAMMA Investing LLC grew its stake in Telecom Argentina by 900.3% in 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 in the last quarter.
About Telecom Argentina
(
Get Free Report)
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.
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