Telecom Argentina (NYSE:TEO) Stock Price Down 3.4% – What’s Next?

Telecom Argentina S.A. (NYSE:TEO) shares were down 3.4% during trading on Monday . The company traded as low as $10.99 and last traded at $10.93. Approximately 79,232 shares changed hands during trading, a decline of 63% from the average daily volume of 212,173 shares. The stock had previously closed at $11.31.

Analyst Ratings Changes

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

Telecom Argentina Stock Up 2.4 %

The business’s 50 day moving average price is $11.61 and its 200-day moving average price is $11.11. The company has a market cap of $4.63 billion, a P/E ratio of -59.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings data 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. The firm had revenue of $1.29 billion during 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 anticipate that Telecom Argentina S.A. will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Telecom Argentina by 113.3% during the 4th 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 bought a new stake in shares of Telecom Argentina during the fourth quarter worth approximately $75,000. Atlas Capital Advisors Inc. acquired a new position in Telecom Argentina in the fourth quarter valued at approximately $106,000. OLD Mission Capital LLC bought a new position in Telecom Argentina in the fourth quarter valued at approximately $133,000. Finally, XTX Topco Ltd acquired a new stake in Telecom Argentina during the 3rd 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.