Telecom Argentina (NYSE:TEO) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “

TEO has been the topic of several other research reports. ValuEngine raised Telecom Argentina from a buy rating to a strong-buy rating in a research note on Tuesday. Bank of America cut Telecom Argentina from a neutral rating to an underperform rating and reduced their price objective for the stock from $17.00 to $15.00 in a research report on Thursday, August 8th. Finally, 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 research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Telecom Argentina currently has an average rating of Hold and an average target price of $12.50.

Shares of NYSE:TEO traded down $0.07 during midday trading on Thursday, reaching $10.33. 238,200 shares of the company were exchanged, compared to its average volume of 347,142. Telecom Argentina has a fifty-two week low of $8.53 and a fifty-two week high of $18.55. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $9.51 and a two-hundred day simple moving average of $12.79. The firm has a market cap of $4.47 billion, a PE ratio of 30.38 and a beta of 0.95.

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

Several institutional investors and hedge funds have recently modified their holdings of TEO. KBC Group NV bought a new stake in Telecom Argentina during the second quarter worth about $54,000. Macquarie Group Ltd. bought a new position in shares of Telecom Argentina in the 2nd quarter valued at about $72,000. DekaBank Deutsche Girozentrale bought a new position in shares of Telecom Argentina in the 2nd quarter valued at about $94,000. Cadence Capital Management LLC acquired a new position in shares of Telecom Argentina during the 3rd quarter worth about $110,000. Finally, Marshall Wace North America L.P. increased its stake in shares of Telecom Argentina by 2,108.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 11,044 shares of the utilities provider’s stock worth $195,000 after purchasing 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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