Telecom Argentina (NYSE:TEO) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

A number of other equities analysts have also recently commented on the stock. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the stock from $5.70 to $6.10 in a research report on Friday, September 20th. The Goldman Sachs Group initiated coverage on Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock.

Telecom Argentina Stock Performance

Shares of TEO stock opened at $10.83 on Tuesday. The business has a 50-day moving average price of $8.52 and a two-hundred day moving average price of $7.82. Telecom Argentina has a 12-month low of $4.88 and a 12-month high of $12.06. The company has a quick ratio of 0.46, a current ratio of 0.40 and a debt-to-equity ratio of 0.31.

Telecom Argentina (NYSE:TEO) last released its earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share for the quarter. The company had revenue of $967.38 million during the quarter. Telecom Argentina had a negative return on equity of 1.18% and a negative net margin of 1.90%. Research analysts predict that Telecom Argentina will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PFG Investments LLC bought a new position in shares of Telecom Argentina during the second quarter valued at about $104,000. Cubist Systematic Strategies LLC purchased a new stake in Telecom Argentina in the 2nd quarter worth approximately $334,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Telecom Argentina in the 2nd quarter worth approximately $174,000.

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.