Telecom Argentina (NYSE:TEO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research report released on Wednesday morning.

Telecom Argentina Price Performance

NYSE:TEO opened at $7.99 on Wednesday. Telecom Argentina has a one year low of $4.50 and a one year high of $8.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -5.36 and a beta of 0.86. The firm’s fifty day moving average is $7.54 and its two-hundred day moving average is $7.11.

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

Institutional Investors Weigh In On Telecom Argentina

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Telecom Argentina by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock valued at $3,274,000 after purchasing an additional 140,362 shares during the last quarter. Oaktree Capital Management LP raised its position in shares of Telecom Argentina by 20.2% in the third quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock worth $11,708,000 after acquiring an additional 410,415 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Telecom Argentina in the third quarter worth about $180,000. Jump Financial LLC raised its position in shares of Telecom Argentina by 209.1% in the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after acquiring an additional 28,964 shares during the period. Finally, RWC Asset Management LLP acquired a new position in shares of Telecom Argentina in the fourth quarter worth about $2,657,000.

About Telecom Argentina

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.