Telecom Argentina (TEO) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

TEO has been the subject of a number of other research reports. ValuEngine raised shares of Telecom Argentina from a sell rating to a hold rating in a report on Friday, September 7th. Bank of America lowered shares of Telecom Argentina from a buy rating to a neutral rating in a report on Friday, September 28th. Finally, TheStreet lowered shares of Telecom Argentina from a c rating to a d+ rating in a report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Telecom Argentina presently has a consensus rating of Hold and a consensus price target of $44.50.

NYSE:TEO opened at $16.43 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 6.87 and a beta of 0.97. Telecom Argentina has a fifty-two week low of $15.26 and a fifty-two week high of $40.19.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings data on Thursday, November 8th. The utilities provider reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.54). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $987.40 million. Telecom Argentina had a negative return on equity of 12.13% and a negative net margin of 9.90%. As a group, equities research analysts predict that Telecom Argentina will post -0.82 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Stevens Capital Management LP grew its holdings in shares of Telecom Argentina by 36.5% during the second quarter. Stevens Capital Management LP now owns 12,740 shares of the utilities provider’s stock worth $226,000 after buying an additional 3,409 shares in the last quarter. Key Square Capital Management LLC purchased a new stake in shares of Telecom Argentina during the second quarter worth $37,114,000. LMR Partners LLP purchased a new stake in shares of Telecom Argentina during the second quarter worth $682,000. USA Financial Portformulas Corp purchased a new stake in shares of Telecom Argentina during the third quarter worth $283,000. Finally, John G Ullman & Associates Inc. purchased a new stake in shares of Telecom Argentina during the third quarter worth $200,000. 6.95% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: When is a capital gain realized?

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