Telecom Argentina (NYSE:TEO) Shares Cross Above 200 Day Moving Average – What’s Next?

Telecom Argentina S.A. (NYSE:TEO)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.81 and traded as high as $11.49. Telecom Argentina shares last traded at $10.75, with a volume of 147,586 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on TEO. StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $13.00 in a research note on Tuesday, February 25th.

Telecom Argentina Trading Up 2.0 %

The firm has a market cap of $4.82 billion, a P/E ratio of -62.14 and a beta of 0.99. The company’s 50 day moving average is $12.12 and its two-hundred day moving average is $10.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.64. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.19 billion. On average, sell-side analysts predict that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.

Institutional Trading of Telecom Argentina

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Telecom Argentina by 111.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock worth $29,297,000 after acquiring an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC acquired a new position in Telecom Argentina in the fourth quarter worth $1,031,000. Bank of America Corp DE grew its holdings in shares of Telecom Argentina by 87.0% during the fourth quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 9,621 shares during the last quarter. Freedom Investment Management Inc. acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at $577,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at $202,000.

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.