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

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

Telecom Argentina Stock Performance

Shares of NYSE TEO traded up $0.67 during mid-day trading on Friday, reaching $8.58. 432,728 shares of the company’s stock traded hands, compared to its average volume of 162,412. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. Telecom Argentina has a 1-year low of $4.50 and a 1-year high of $8.87. The business has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $7.19.

Telecom Argentina (NYSE:TEO) last announced its 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $936.76 million. As a group, sell-side analysts anticipate that Telecom Argentina will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEO. JGP Global Gestao de Recursos Ltda. bought a new position in Telecom Argentina in the 3rd quarter valued at $180,000. Jump Financial LLC grew its position in Telecom Argentina by 209.1% during the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after buying an additional 28,964 shares in the last quarter. RWC Asset Advisors US LLC purchased a new stake in shares of Telecom Argentina in the 4th quarter valued at about $2,212,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Telecom Argentina by 13.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock valued at $1,521,000 after purchasing an additional 38,149 shares in the last quarter. Finally, RWC Asset Management LLP purchased a new stake in Telecom Argentina in the fourth quarter worth approximately $2,657,000.

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.