Telecom Argentina (NYSE:TEO) Rating Increased to Strong-Buy at ValuEngine

Telecom Argentina (NYSE:TEO) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday, ValuEngine reports.

Several other brokerages have also weighed in on TEO. Zacks Investment Research lowered Telecom Argentina from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Scotiabank raised Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 price objective for the company in a report on Monday, August 12th. Finally, Bank of America lowered Telecom Argentina from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $17.00 to $15.00 in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.50.

Shares of Telecom Argentina stock opened at $9.96 on Tuesday. Telecom Argentina has a 1 year low of $8.53 and a 1 year high of $18.55. The firm has a market cap of $4.47 billion, a PE ratio of 29.29 and a beta of 0.95. The stock has a fifty day moving average price of $9.53 and a 200-day moving average price of $12.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.85 and a quick ratio of 0.80.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Friday, November 15th. The utilities provider reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.57). Telecom Argentina had a net margin of 7.39% and a return on equity of 5.74%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $836.17 million. As a group, equities analysts anticipate that Telecom Argentina will post -0.12 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV purchased a new stake in Telecom Argentina in the 2nd quarter worth about $54,000. Macquarie Group Ltd. purchased a new stake in Telecom Argentina in the 2nd quarter worth about $72,000. DekaBank Deutsche Girozentrale purchased a new stake in Telecom Argentina in the 2nd quarter worth about $94,000. Pictet Asset Management Ltd. increased its holdings in Telecom Argentina by 9.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 113,377 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 10,225 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its holdings in Telecom Argentina by 2,108.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 11,044 shares of the utilities provider’s stock worth $195,000 after acquiring an additional 10,544 shares during the last quarter. 3.40% of the stock is owned by institutional investors.

About Telecom Argentina

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.

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