StockNews.com Lowers Telecom Argentina (NYSE:TEO) to Sell

StockNews.com downgraded shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a report released on Wednesday.

Telecom Argentina Stock Performance

Telecom Argentina stock opened at $7.99 on Wednesday. The business has a 50 day moving average of $7.54 and a 200-day moving average of $7.11. Telecom Argentina has a 1 year low of $4.50 and a 1 year high of $8.87. 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 company has a market capitalization of $3.44 billion, a P/E ratio of -5.36 and a beta of 0.86.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data 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. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $936.76 million. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. On average, equities research analysts predict that Telecom Argentina will post 0.36 earnings per share for the current year.

Institutional Trading of Telecom Argentina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oaktree Capital Management LP increased its position in Telecom Argentina by 0.4% during the 4th quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock valued at $17,547,000 after purchasing an additional 10,000 shares during the period. Jump Financial LLC increased its position in Telecom Argentina by 209.1% during the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 28,964 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in Telecom Argentina during the 3rd quarter valued at approximately $180,000. Mirae Asset Global Investments Co. Ltd. increased its position in Telecom Argentina by 13.7% during the 3rd 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 during the period. Finally, RWC Asset Advisors US LLC acquired a new stake in shares of Telecom Argentina during the 4th quarter worth approximately $2,212,000.

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.