Zacks Investment Research upgraded shares of Telecom Argentina (NYSE:TEO) from a strong sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
Several other analysts have also recently weighed in on the company. ValuEngine cut Telecom Argentina from a hold rating to a sell rating in a report on Monday, February 4th. Santander raised Telecom Argentina from an underperform rating to a hold rating in a report on Friday, December 21st. Finally, TheStreet raised Telecom Argentina from a d+ rating to a c- rating in a report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of Hold.
Shares of NYSE:TEO traded up $0.01 on Wednesday, hitting $14.90. The company’s stock had a trading volume of 190,403 shares, compared to its average volume of 254,599. Telecom Argentina has a 1 year low of $13.31 and a 1 year high of $35.48. The stock has a market cap of $2.99 billion, a P/E ratio of 6.23, a PEG ratio of 3.04 and a beta of 0.93. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 0.34.
Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of Telecom Argentina by 52.8% in the 3rd quarter. Wells Fargo & Company MN now owns 36,813 shares of the utilities provider’s stock valued at $641,000 after acquiring an additional 12,717 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Telecom Argentina during the 3rd quarter valued at about $270,000. John G Ullman & Associates Inc. purchased a new position in shares of Telecom Argentina during the 3rd quarter valued at about $200,000. USA Financial Portformulas Corp purchased a new position in shares of Telecom Argentina during the 3rd quarter valued at about $283,000. Finally, Newfoundland Capital Management raised its holdings in shares of Telecom Argentina by 109.7% during the 3rd quarter. Newfoundland Capital Management now owns 762,553 shares of the utilities provider’s stock valued at $13,284,000 after buying an additional 398,963 shares in the last quarter. 6.76% of the stock is currently owned by hedge funds and other institutional investors.
About Telecom Argentina
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company operates through three segments: Fixed Services, Personal Mobile Services, and Núcleo Mobile Services. It offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; and data transmission and Internet services comprising broadband, Internet dedicated lines, private networks, national and international video streaming, transportation of radio and TV signals, and video conferencing services.
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