Telecom Argentina (NYSE:TEO) Trading 7.4% Higher - What's Next?

Shares of Telecom Argentina S.A. (NYSE:TEO - Get Free Report) shot up 7.4% during trading on Tuesday . The company traded as high as $10.15 and last traded at $10.16. 186,090 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 208,648 shares. The stock had previously closed at $9.46.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEO shares. Scotiabank reiterated an "underperform" rating on shares of Telecom Argentina in a research report on Thursday, May 15th. The Goldman Sachs Group upped their price target 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 Telecom Argentina from a "neutral" rating to an "overweight" rating and upped their target price for the company from $10.00 to $13.00 in a report on Tuesday, February 25th.

Telecom Argentina Price Performance

The company has a market cap of $4.07 billion, a P/E ratio of -52.44 and a beta of 1.21. The firm has a 50 day moving average of $10.21 and a 200-day moving average of $11.45. 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 announced its earnings results on Monday, May 12th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.44. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate 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, equities research analysts predict that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Telecom Argentina

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Telecom Argentina by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,872 shares of the utilities provider's stock valued at $25,270,000 after purchasing an additional 152,837 shares during the last quarter. Bosun Asset Management LLC acquired a new position in Telecom Argentina during the 4th quarter worth approximately $1,031,000. Invesco Ltd. lifted its position in shares of Telecom Argentina by 19.8% during the 1st quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider's stock worth $571,000 after buying an additional 9,243 shares during the last quarter. Freedom Investment Management Inc. acquired a new position in Telecom Argentina during the fourth quarter worth approximately $577,000. Finally, GAMMA Investing LLC grew its stake in shares of Telecom Argentina by 900.3% in the 1st quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider's stock valued at $3,845,000 after purchasing an additional 35,264 shares during the last quarter.

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.