Telecom Argentina Stet - France Telecom (NYSE:TEO) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Telecom Argentina from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with three Buy, two Hold and one Sell rating, and an average price target of $15.93.
• TEO opened at $13.71, near its 50-day moving average of $13.50 and below its 52-week high of $16.34. The company has a $5.91 billion market capitalization and a P/E ratio of 11.15.
• Institutional interest has increased, with several investment firms establishing or expanding positions, although a company director sold 188,500 shares at an average price of $2.78.

Telecom Argentina Stet - France Telecom (NYSE:TEO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on TEO. UBS Group dropped their target price on Telecom Argentina Stet - France Telecom from $18.00 to $16.50 and set a "buy" rating for the company in a report on Wednesday, August 12th. JPMorgan Chase & Co. upped their price target on Telecom Argentina Stet - France Telecom from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Zacks Research cut Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Morgan Stanley upgraded Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $13.00 to $17.00 in a research note on Wednesday, June 24th. Finally, Scotiabank lifted their price objective on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $15.93.

Telecom Argentina Stet - France Telecom Stock Performance

Telecom Argentina Stet - France Telecom stock opened at $13.71 on Friday. The stock has a market cap of $5.91 billion, a P/E ratio of 11.15 and a beta of 1.33. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Telecom Argentina Stet - France Telecom has a 52 week low of $6.51 and a 52 week high of $16.34. The stock has a 50 day moving average of $13.50 and a 200-day moving average of $12.77.

Insider Buying and Selling

In other news, Director Baruki Luis Alberto Gonzalez sold 188,500 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $2.78, for a total transaction of $524,030.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sagil Capital LLP acquired a new stake in shares of Telecom Argentina Stet - France Telecom during the 4th quarter worth approximately $7,629,000. RWC Asset Management LLP lifted its holdings in Telecom Argentina Stet - France Telecom by 50.7% in the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider's stock valued at $11,717,000 after buying an additional 339,416 shares during the period. Verde Servicos Internacionais S.A. acquired a new position in Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $701,000. SPX Gestao de Recursos Ltda bought a new position in Telecom Argentina Stet - France Telecom in the first quarter valued at approximately $8,565,000. Finally, ABS Direct Equity Fund LLC bought a new position in Telecom Argentina Stet - France Telecom in the second quarter valued at approximately $3,033,000.

About Telecom Argentina Stet - France Telecom

Telecom Argentina SA, formerly known as Telecom Argentina STET-France Telecom, is a telecommunications company serving consumers, businesses and public-sector organizations primarily in Argentina. The company provides mobile and fixed-line voice services, broadband internet access, data connectivity and other communications solutions.

Its consumer brands include Personal for mobile and broadband services and Flow for pay television, video streaming and related entertainment offerings. Telecom Argentina also provides information and communications technology services to corporate and institutional customers, including connectivity, data transmission, cloud, cybersecurity and other digital solutions.

The company was established following Argentina's telecommunications privatization in the early 1990s, with STET and France Télécom initially participating in its ownership.

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