Telecom Argentina S.A. (NYSE:TEO) Sees Large Drop in Short Interest

Telecom Argentina S.A. (NYSE:TEO - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 324,500 shares, a decrease of 21.0% from the April 30th total of 410,900 shares. Based on an average daily trading volume, of 208,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.3% of the company's stock are short sold.

Telecom Argentina Stock Down 0.3%

Telecom Argentina stock traded down $0.03 during mid-day trading on Thursday, reaching $9.50. The stock had a trading volume of 46,665 shares, compared to its average volume of 208,622. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -52.72 and a beta of 1.21. The company has a 50-day moving average price of $10.27 and a two-hundred day moving average price of $11.60. Telecom Argentina has a one year low of $5.52 and a one year high of $15.54. 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 - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.44. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.08 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. On average, analysts expect that Telecom Argentina will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Telecom Argentina by 111.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider's stock valued at $29,297,000 after acquiring an additional 1,224,369 shares during the period. Bosun Asset Management LLC bought a new position in Telecom Argentina during the 4th quarter valued at about $1,031,000. JGP Global Gestao de Recursos Ltda. bought a new position in Telecom Argentina during the 4th quarter valued at about $853,000. Freedom Investment Management Inc. bought a new position in Telecom Argentina during the 4th quarter valued at about $577,000. Finally, Acadian Asset Management LLC bought a new position in Telecom Argentina during the 1st quarter valued at about $379,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TEO. JPMorgan Chase & Co. raised shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th. The Goldman Sachs Group upped their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the stock a "sell" rating in a research report on Wednesday, April 23rd. Finally, Scotiabank reaffirmed an "underperform" rating on shares of Telecom Argentina in a research report on Thursday, May 15th.

About Telecom Argentina

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.