Citigroup began coverage on shares of Telecom Argentina (NYSE:TEO) in a report issued on Monday, MarketBeat reports. The brokerage issued a buy rating and a $46.00 price target on the utilities provider’s stock.
Separately, Zacks Investment Research downgraded Telecom Argentina from a hold rating to a strong sell rating in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Telecom Argentina presently has a consensus rating of Buy and an average target price of $33.75.
Shares of Telecom Argentina (NYSE:TEO) traded down $0.07 during mid-day trading on Monday, hitting $39.03. The stock had a trading volume of 250,207 shares, compared to its average volume of 225,500. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3,620.00, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.49. Telecom Argentina has a twelve month low of $18.71 and a twelve month high of $40.19.
Several hedge funds have recently made changes to their positions in TEO. LSV Asset Management raised its stake in shares of Telecom Argentina by 45.8% during the 2nd quarter. LSV Asset Management now owns 22,600 shares of the utilities provider’s stock worth $572,000 after buying an additional 7,100 shares during the period. Alliancebernstein L.P. increased its position in shares of Telecom Argentina by 3.1% during the second quarter. Alliancebernstein L.P. now owns 555,270 shares of the utilities provider’s stock worth $14,071,000 after purchasing an additional 16,750 shares in the last quarter. AJO LP purchased a new stake in shares of Telecom Argentina during the second quarter worth approximately $1,073,000. Fiera Capital Corp purchased a new stake in shares of Telecom Argentina during the second quarter worth approximately $5,164,000. Finally, Dorsey Wright & Associates purchased a new stake in shares of Telecom Argentina during the second quarter worth approximately $1,052,000. 6.01% of the stock is owned by institutional investors and hedge funds.
About Telecom Argentina
Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).
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