Telecom Argentina SA (NYSE:TEO) Receives Consensus Rating of “Sell” from Brokerages

Telecom Argentina SA (NYSE:TEO) has earned a consensus rating of “Sell” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $12.50.

A number of equities research analysts have commented on TEO shares. Bank of America cut shares of Telecom Argentina from a “neutral” rating to an “underperform” rating and reduced their price target 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 research report on Wednesday. Scotiabank raised shares of Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 price objective on the stock in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th.

NYSE:TEO traded up $0.51 during trading hours on Monday, reaching $11.17. The company had a trading volume of 528,800 shares, compared to its average volume of 341,193. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 0.27. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 32.85 and a beta of 0.64. The business’s 50-day simple moving average is $16.58 and its two-hundred day simple moving average is $15.62. Telecom Argentina has a twelve month low of $10.10 and a twelve month high of $19.88.

Several institutional investors have recently modified their holdings of TEO. BlackRock Inc. raised its position in shares of Telecom Argentina by 715.4% during the second quarter. BlackRock Inc. now owns 3,761,730 shares of the utilities provider’s stock valued at $66,470,000 after buying an additional 3,300,388 shares during the last quarter. Oaktree Capital Management LP boosted its stake in Telecom Argentina by 14.8% during the second quarter. Oaktree Capital Management LP now owns 1,198,000 shares of the utilities provider’s stock worth $21,169,000 after buying an additional 154,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Telecom Argentina by 68.9% during the first quarter. JPMorgan Chase & Co. now owns 970,799 shares of the utilities provider’s stock worth $14,174,000 after buying an additional 396,107 shares during the period. Vanguard Group Inc. purchased a new position in Telecom Argentina during the second quarter worth $7,578,000. Finally, Northern Trust Corp boosted its stake in Telecom Argentina by 316.6% during the second quarter. Northern Trust Corp now owns 416,939 shares of the utilities provider’s stock worth $7,367,000 after buying an additional 316,850 shares during the period. Institutional investors own 3.09% of the company’s stock.

Telecom Argentina Company Profile

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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