Telecom Argentina (NYSE:TEO) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research note released on Friday.

Telecom Argentina Price Performance

NYSE TEO opened at $8.75 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $9.00. The business has a 50 day simple moving average of $7.57 and a 200 day simple moving average of $7.23.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $936.76 million. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. As a group, analysts forecast that Telecom Argentina will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina

Several institutional investors have recently bought and sold shares of TEO. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina in the third quarter valued at approximately $180,000. Jump Financial LLC increased its holdings 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Telecom Argentina by 13.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock worth $1,521,000 after acquiring an additional 38,149 shares in the last quarter. RWC Asset Advisors US LLC acquired a new stake in Telecom Argentina in the fourth quarter valued at $2,212,000. Finally, RWC Asset Management LLP bought a new position in shares of Telecom Argentina in the 4th quarter valued at about $2,657,000.

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.