Telecom Argentina (NYSE:TEO) Stock Price Down 5.5% - What's Next?

Telecom Argentina S.A. (NYSE:TEO - Get Free Report)'s stock price was down 5.5% on Wednesday . The company traded as low as $9.58 and last traded at $9.54. Approximately 105,540 shares changed hands during trading, a decline of 49% from the average daily volume of 208,350 shares. The stock had previously closed at $10.10.

Analysts Set New Price Targets

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

Telecom Argentina Price Performance

The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -53.77 and a beta of 1.21. The company's 50 day simple moving average is $10.21 and its 200-day simple moving average is $11.47. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Telecom Argentina (NYSE:TEO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.44. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.08 billion. On average, equities research analysts predict that Telecom Argentina S.A. will post 1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. OLD Mission Capital LLC purchased a new position in Telecom Argentina during the fourth quarter worth approximately $133,000. Atlas Capital Advisors Inc. purchased a new position in Telecom Argentina during the fourth quarter worth approximately $106,000. Mariner LLC raised its stake in Telecom Argentina by 8.1% during the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider's stock worth $413,000 after purchasing an additional 2,467 shares during the period. XTX Topco Ltd raised its stake in Telecom Argentina by 64.7% during the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider's stock worth $220,000 after purchasing an additional 6,878 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Telecom Argentina during the fourth quarter worth approximately $202,000.

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.