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

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

Telecom Argentina Trading Up 8.5 %

Shares of TEO traded up $0.67 on Friday, hitting $8.58. 432,909 shares of the stock traded hands, compared to its average volume of 198,326. Telecom Argentina has a 1 year low of $4.50 and a 1 year high of $8.87. The stock’s 50 day moving average is $7.57 and its two-hundred day moving average is $7.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44.

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

Institutional Trading of Telecom Argentina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEO. Oaktree Capital Management LP boosted its position in shares of Telecom Argentina by 0.4% in the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after acquiring an additional 10,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Telecom Argentina by 44.2% in the 4th 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. RWC Asset Management LLP purchased a new stake in shares of Telecom Argentina during the 4th quarter valued at $2,657,000. RWC Asset Advisors US LLC acquired a new stake in shares of Telecom Argentina during the 4th quarter worth $2,212,000. Finally, Jump Financial LLC raised its position in shares of Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after buying an additional 28,964 shares during the period.

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.