Telecom Argentina (NYSE:TEO) Shares Down 7.2% – What’s Next?

Shares of Telecom Argentina S.A. (NYSE:TEO) dropped 7.2% during trading on Tuesday . The stock traded as low as $10.38 and last traded at $10.31. Approximately 70,171 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 214,745 shares. The stock had previously closed at $11.11.

Analyst Upgrades and Downgrades

TEO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th. The Goldman Sachs Group boosted their target price on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a report on Wednesday, November 20th. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Scotiabank lifted their price objective on Telecom Argentina from $6.10 to $6.20 and gave the stock a “sector underperform” rating in a research report on Thursday, March 13th.

Telecom Argentina Stock Up 0.6 %

The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -60.77 and a beta of 0.99. The stock’s 50-day moving average is $11.81 and its 200-day moving average is $10.98.

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

Hedge Funds Weigh In On Telecom Argentina

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,081 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Telecom Argentina during the fourth quarter valued at about $75,000. Atlas Capital Advisors Inc. bought a new stake in shares of Telecom Argentina during the fourth quarter worth about $106,000. OLD Mission Capital LLC acquired a new stake in shares of Telecom Argentina in the 4th quarter worth about $133,000. Finally, XTX Topco Ltd bought a new position in Telecom Argentina in the 3rd quarter valued at about $80,000.

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.