Telecom Argentina (NYSE:TEO) Stock Price Up 4.5% – Here’s Why

Shares of Telecom Argentina S.A. (NYSE:TEO) traded up 4.5% on Tuesday . The stock traded as high as $10.90 and last traded at $10.96. 44,782 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 213,008 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

TEO has been the topic of a number of recent research reports. Scotiabank lifted their target price on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $13.00 in a research note on Tuesday, February 25th.

Telecom Argentina Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $11.56 and a 200-day moving average price of $11.10. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -59.00 and a beta of 0.99.

Telecom Argentina (NYSE:TEO) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. On average, analysts expect that Telecom Argentina S.A. will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Telecom Argentina by 113.3% in the fourth 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 during the period. Advisors Preferred LLC purchased a new stake in shares of Telecom Argentina during the 4th quarter worth approximately $75,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Telecom Argentina in the 4th quarter worth approximately $106,000. OLD Mission Capital LLC purchased a new position in Telecom Argentina in the 4th quarter valued at approximately $133,000. Finally, XTX Topco Ltd acquired a new position in Telecom Argentina during the third quarter worth $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.