Telecom Argentina (NYSE:TEO) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a note issued to investors on Friday, Zacks.com reports.
According to Zacks, "TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. "
Separately, HSBC upgraded Telecom Argentina from a "reduce" rating to a "buy" rating in a research note on Tuesday, March 16th.
Shares of TEO opened at $6.47 on Friday. Telecom Argentina has a 12-month low of $4.39 and a 12-month high of $10.66. The company's fifty day moving average is $5.16. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -161.75 and a beta of 0.39. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.60 and a quick ratio of 0.56.
Telecom Argentina (NYSE:TEO) last issued its quarterly earnings results on Monday, May 17th. The utilities provider reported $0.23 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.12 by $0.11. Telecom Argentina had a negative net margin of 0.41% and a negative return on equity of 0.32%. As a group, equities analysts forecast that Telecom Argentina will post -0.43 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ensign Peak Advisors Inc grew its holdings in shares of Telecom Argentina by 191.9% in the 1st quarter. Ensign Peak Advisors Inc now owns 5,400 shares of the utilities provider's stock worth $30,000 after acquiring an additional 3,550 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Telecom Argentina in the 1st quarter worth $32,000. Barclays PLC acquired a new position in shares of Telecom Argentina in the 1st quarter worth $43,000. Quadrature Capital Ltd acquired a new position in shares of Telecom Argentina in the 1st quarter worth $65,000. Finally, Morgan Stanley grew its holdings in shares of Telecom Argentina by 40.3% in the 1st quarter. Morgan Stanley now owns 11,657 shares of the utilities provider's stock worth $65,000 after acquiring an additional 3,346 shares during the last quarter. Hedge funds and other institutional investors own 3.74% of the company's stock.
Telecom Argentina Company Profile
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as traffic and interconnection resource, dedicated Internet access, video signals transportation in standard and high definitions, audio and video streaming, dedicated links, backhaul links for mobile operators, Internet protocol virtual private network, video links, value-added, data center hosting/housing, and other services; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.
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