Telecom Argentina (NYSE:TEO) Stock Price Up 11%

Shares of Telecom Argentina SA (NYSE:TEO) rose 11% during mid-day trading on Wednesday . The stock traded as high as $17.99 and last traded at $17.81. Approximately 1,557,205 shares changed hands during mid-day trading, an increase of 275% from the average daily volume of 415,806 shares. The stock had previously closed at $16.04.

Separately, Zacks Investment Research raised Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold”.

The company has a market cap of $2.97 billion, a PE ratio of 52.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.73 and a quick ratio of 0.67.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.14). Telecom Argentina had a negative net margin of 2.24% and a negative return on equity of 2.12%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $961.18 million. As a group, equities research analysts anticipate that Telecom Argentina SA will post 0.76 earnings per share for the current year.

The business also recently announced an annual dividend, which was paid on Tuesday, May 14th. Investors of record on Monday, May 6th were given a $0.3449 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a dividend yield of 2.59%. This is an increase from Telecom Argentina’s previous annual dividend of $0.25. Telecom Argentina’s payout ratio is currently 97.06%.

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new stake in shares of Telecom Argentina in the first quarter valued at about $162,000. Alpine Global Management LLC acquired a new stake in shares of Telecom Argentina in the first quarter valued at about $329,000. Squarepoint Ops LLC acquired a new stake in shares of Telecom Argentina in the fourth quarter valued at about $341,000. Hsbc Holdings PLC acquired a new stake in shares of Telecom Argentina in the first quarter valued at about $458,000. Finally, Wells Fargo & Company MN increased its position in shares of Telecom Argentina by 10.3% in the first quarter. Wells Fargo & Company MN now owns 32,481 shares of the utilities provider’s stock valued at $474,000 after acquiring an additional 3,037 shares during the last quarter. 6.67% of the stock is currently owned by institutional investors and hedge funds.

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Telecom Argentina Company Profile (NYSE:TEO)

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company 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; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.

Further Reading: Earnings Per Share

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