Telecom Argentina (NYSE:TEO) Shares Gap Down - Should You Sell?

Shares of Telecom Argentina S.A. (NYSE:TEO - Get Free Report) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

TEO has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $10.00 to $13.00 in a report on Tuesday, February 25th. The Goldman Sachs Group raised their price objective on Telecom Argentina from $8.30 to $9.50 and gave the stock a "sell" rating in a research note on Wednesday, April 23rd. Finally, Scotiabank upped their price target on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a "sector underperform" rating in a report on Thursday, March 13th.

Telecom Argentina Stock Performance

The stock has a market capitalization of $3.94 billion, a P/E ratio of -50.82 and a beta of 0.94. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $10.55 and a two-hundred day simple moving average of $11.50.

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

Institutional Investors Weigh In On Telecom Argentina

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider's stock worth $49,000 after acquiring an additional 2,081 shares during the period. Advisors Preferred LLC bought a new position in shares of Telecom Argentina in the fourth quarter worth $75,000. Atlas Capital Advisors Inc. acquired a new position in Telecom Argentina in the fourth quarter valued at about $106,000. OLD Mission Capital LLC acquired a new stake in Telecom Argentina during the fourth quarter worth about $133,000. Finally, NewEdge Advisors LLC bought a new position in Telecom Argentina in the 4th quarter valued at about $202,000.

Telecom Argentina Company Profile

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.