Telecom Argentina SA (NYSE:TEO)’s share price rose 7.8% during mid-day trading on Thursday . The stock traded as high as $11.64 and last traded at $11.02, approximately 575,000 shares were traded during mid-day trading. An increase of 49% from the average daily volume of 385,441 shares. The stock had previously closed at $10.22.
TEO has been the subject of several analyst reports. Bank of America lowered shares of Telecom Argentina from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $17.00 to $15.00 in a report on Thursday, August 8th. Zacks Investment Research lowered shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of Telecom Argentina from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Scotiabank raised shares of Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 target price for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus price target of $12.50.
The company’s fifty day moving average is $16.58 and its 200-day moving average is $15.62. The company has a market capitalization of $4.81 billion, a PE ratio of 32.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 0.70.
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in Telecom Argentina by 213.9% during the 4th quarter. Legal & General Group Plc now owns 81,358 shares of the utilities provider’s stock valued at $1,266,000 after buying an additional 55,438 shares in the last quarter. Deutsche Bank AG grew its holdings in Telecom Argentina by 28.3% during the 4th quarter. Deutsche Bank AG now owns 99,269 shares of the utilities provider’s stock valued at $1,544,000 after buying an additional 21,900 shares in the last quarter. Gulf International Bank UK Ltd purchased a new stake in Telecom Argentina during the 2nd quarter valued at approximately $254,000. Compass Group LLC purchased a new stake in Telecom Argentina during the 1st quarter valued at approximately $1,671,000. Finally, Avalon Advisors LLC grew its holdings in Telecom Argentina by 15.0% during the 1st quarter. Avalon Advisors LLC now owns 48,023 shares of the utilities provider’s stock valued at $701,000 after buying an additional 6,260 shares in the last quarter. 3.09% of the stock is owned by institutional investors and hedge funds.
About Telecom Argentina (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.
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