Telecom Argentina Stet - France Telecom (NYSE:TEO) Shares Down 5.6% - Here's What Happened

Key Points

• Telecom Argentina’s shares fell 5.6% to $13.505 during Tuesday trading, with volume down 84% from the average session level.
• Analyst sentiment remains mixed: Morgan Stanley and JPMorgan raised the stock to “overweight,” while Scotiabank and Zacks maintained more cautious views. The consensus rating is “Hold”, with a $15.55 price target.
• A company director purchased 38,890 shares worth approximately $522,000, increasing his ownership by 10.79%; several institutional investors have also recently established new positions.

Telecom Argentina Stet - France Telecom S.A. (NYSE:TEO - Get Free Report) traded down 5.6% on Tuesday . The stock traded as low as $13.65 and last traded at $13.5050. Approximately 58,659 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 368,323 shares. The stock had previously closed at $14.30.

Analyst Ratings Changes

TEO has been the topic of several research analyst reports. Scotiabank boosted their target price on Telecom Argentina Stet - France Telecom from $8.60 to $9.20 and gave the company a "sector underperform" rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of Telecom Argentina Stet - France Telecom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Morgan Stanley raised shares of Telecom Argentina Stet - France Telecom from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. JPMorgan Chase & Co. raised their target price on shares of Telecom Argentina Stet - France Telecom from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 9th. Finally, Zacks Research cut shares of Telecom Argentina Stet - France Telecom from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.55.

Telecom Argentina Stet - France Telecom Stock Down 7.2%

The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $5.72 billion, a P/E ratio of 10.80 and a beta of 1.36. The company has a 50-day moving average of $13.62 and a two-hundred day moving average of $12.50.

Insider Activity at Telecom Argentina Stet - France Telecom

In other Telecom Argentina Stet - France Telecom news, Director Alejandro Alberto Urricelqui bought 38,890 shares of Telecom Argentina Stet - France Telecom stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the transaction, the director directly owned 399,348 shares of the company's stock, valued at $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TEO. EFG International AG purchased a new stake in Telecom Argentina Stet - France Telecom in the fourth quarter worth about $58,000. Van ECK Associates Corp purchased a new position in shares of Telecom Argentina Stet - France Telecom during the third quarter valued at approximately $43,000. Engineers Gate Manager LP bought a new stake in shares of Telecom Argentina Stet - France Telecom in the 2nd quarter worth approximately $110,000. Qube Research & Technologies Ltd bought a new stake in shares of Telecom Argentina Stet - France Telecom in the 3rd quarter worth approximately $98,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Telecom Argentina Stet - France Telecom in the 4th quarter worth approximately $171,000.

Telecom Argentina Stet - France Telecom Company Profile

Telecom Argentina Stet – France Telecom NYSE: TEO is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country's principal communications groups, offering a comprehensive portfolio of voice and data services.

The company's core business activities span fixed-line telephony, mobile services, broadband internet and digital television.

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