Telecom Argentina (NYSE:TEO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a report published on Tuesday morning.

Telecom Argentina Stock Performance

Shares of NYSE TEO opened at $7.21 on Tuesday. Telecom Argentina has a 52 week low of $4.50 and a 52 week high of $8.87. The firm has a 50-day moving average price of $7.52 and a 200 day moving average price of $7.00. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.70.

Telecom Argentina (NYSE:TEO) last posted its earnings results on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $936.76 million. Research analysts predict that Telecom Argentina will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Oaktree Capital Management LP increased its position in Telecom Argentina by 20.2% during the third quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock worth $11,708,000 after buying an additional 410,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Telecom Argentina by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock worth $3,274,000 after purchasing an additional 140,362 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in Telecom Argentina in the 3rd quarter valued at about $180,000. Virtu Financial LLC acquired a new position in Telecom Argentina in the 2nd quarter valued at about $62,000. Finally, Susquehanna International Group LLP purchased a new position in Telecom Argentina in the 1st quarter valued at about $62,000.

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.