Telecom Argentina (NYSE:TEO) Shares Gap Down - Here's Why

Telecom Argentina S.A. (NYSE:TEO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $9.74, but opened at $9.52. Telecom Argentina shares last traded at $9.78, with a volume of 381,923 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Scotiabank lifted 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. The Goldman Sachs Group raised their target price on shares of Telecom Argentina from $8.30 to $9.50 and gave the company a "sell" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $10.00 to $13.00 in a report on Tuesday, February 25th.

Telecom Argentina Stock Performance

The firm has a 50 day moving average of $10.78 and a two-hundred day moving average of $11.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a market cap of $4.17 billion, a PE ratio of -53.83 and a beta of 0.94.

Telecom Argentina (NYSE:TEO - Get Free Report) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.64. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.19 billion. Research analysts predict that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Institutional Trading of Telecom Argentina

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $29,297,000 after buying an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC purchased a new position in shares of Telecom Argentina during the fourth quarter worth approximately $1,031,000. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Telecom Argentina in the 4th quarter valued at $853,000. Freedom Investment Management Inc. purchased a new stake in Telecom Argentina in the 4th quarter valued at $577,000. Finally, GAMMA Investing LLC boosted its stake in Telecom Argentina by 900.3% during the 1st quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock worth $3,845,000 after purchasing an additional 35,264 shares during the period.

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.

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