Telecom Argentina (NYSE:TEO) Upgraded to “Hold” at StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Telecom Argentina Stock Performance

Telecom Argentina stock traded up $0.17 on Tuesday, reaching $7.20. The company’s stock had a trading volume of 243,742 shares, compared to its average volume of 162,862. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. The business’s fifty day moving average price is $7.53 and its 200 day moving average price is $6.99. Telecom Argentina has a twelve month low of $4.50 and a twelve month high of $8.87.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.24) by $0.08. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $936.76 million. As a group, equities research analysts forecast that Telecom Argentina will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Telecom Argentina

Several large investors have recently made changes to their positions in the company. Oaktree Capital Management LP lifted its stake in shares of Telecom Argentina by 0.4% during the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock valued at $17,547,000 after acquiring an additional 10,000 shares during the period. Morgan Stanley lifted its stake in Telecom Argentina by 791.4% in the fourth quarter. Morgan Stanley now owns 638,931 shares of the utilities provider’s stock valued at $3,482,000 after buying an additional 567,253 shares during the period. Eaton Vance Management acquired a new position in Telecom Argentina in the first quarter valued at about $3,507,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Telecom Argentina by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock valued at $3,274,000 after buying an additional 140,362 shares during the period. Finally, RWC Asset Management LLP acquired a new position in Telecom Argentina in the fourth quarter valued at about $2,657,000.

About Telecom Argentina

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.