Telecom Argentina (NYSE:TEO) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research note released on Tuesday morning.

Telecom Argentina Trading Up 2.7 %

TEO opened at $7.21 on Tuesday. Telecom Argentina has a 12 month low of $4.50 and a 12 month high of $8.87. The business’s 50-day moving average price is $7.52 and its 200-day moving average price is $7.00. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.70.

Telecom Argentina (NYSE:TEO) last announced its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $936.76 million. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. On average, analysts expect that Telecom Argentina will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Telecom Argentina

Several institutional investors have recently added to or reduced their stakes in the company. Eaton Vance Management bought a new position in shares of Telecom Argentina during the first quarter valued at about $3,507,000. Morgan Stanley raised its position in Telecom Argentina by 791.4% during the 4th quarter. Morgan Stanley now owns 638,931 shares of the utilities provider’s stock valued at $3,482,000 after purchasing an additional 567,253 shares during the last quarter. Oaktree Capital Management LP raised its position in Telecom Argentina by 20.2% during the 3rd quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock valued at $11,708,000 after purchasing an additional 410,415 shares during the last quarter. RWC Asset Management LLP purchased a new stake in Telecom Argentina in the 4th quarter worth approximately $2,657,000. Finally, RWC Asset Advisors US LLC bought a new stake in shares of Telecom Argentina in the 4th quarter worth approximately $2,212,000.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.