Telecom Argentina (NYSE:TEO) Stock Price Down 7.2% – Time to Sell?

Telecom Argentina S.A. (NYSE:TEO) shares were down 7.2% during mid-day trading on Tuesday . The stock traded as low as $10.38 and last traded at $10.31. Approximately 70,171 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank upped 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. The Goldman Sachs Group lifted their price target on shares of Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th.

Telecom Argentina Trading Down 6.7 %

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 business has a fifty day moving average price of $11.94 and a 200-day moving average price of $10.96. The company has a market cap of $4.46 billion, a P/E ratio of -57.52 and a beta of 0.99.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Telecom Argentina by 111.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock worth $29,297,000 after acquiring an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC bought a new stake in shares of Telecom Argentina during the 4th quarter valued at about $1,031,000. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Telecom Argentina in the 4th quarter valued at $853,000. Freedom Investment Management Inc. acquired a new position in shares of Telecom Argentina during the 4th quarter valued at $577,000. Finally, Centiva Capital LP bought a new position in Telecom Argentina during the third quarter worth $123,000.

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.