Telecom Argentina (NYSE:TEO) Upgraded at StockNews.com

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

Telecom Argentina Stock Performance

Shares of TEO opened at $7.02 on Tuesday. The company has a 50-day simple moving average of $7.53 and a 200-day simple moving average of $6.99. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.70. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $8.87.

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

Institutional Trading of Telecom Argentina

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC grew its position in shares of Telecom Argentina by 14.7% during the fourth quarter. Virtu Financial LLC now owns 14,494 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,857 shares in the last quarter. Barclays PLC bought a new stake in Telecom Argentina in the fourth quarter worth about $25,000. Goldman Sachs Group Inc. raised its holdings in Telecom Argentina by 13.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 39,059 shares of the utilities provider’s stock worth $279,000 after buying an additional 4,761 shares during the period. Bank of America Corp DE raised its holdings in Telecom Argentina by 73.8% during the 1st quarter. Bank of America Corp DE now owns 17,530 shares of the utilities provider’s stock worth $87,000 after buying an additional 7,445 shares during the period. Finally, Invesco Ltd. grew its stake in Telecom Argentina by 13.4% during the 3rd quarter. Invesco Ltd. now owns 68,606 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 8,096 shares in the last quarter.

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.