Zacks Research Upgrades Telecom Argentina Stet – France Telecom (NYSE:TEO) to “Strong-Buy”

Telecom Argentina Stet – France Telecom (NYSE:TEO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also commented on TEO. Weiss Ratings lowered shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Scotiabank downgraded shares of Telecom Argentina Stet – France Telecom from a “sector perform” rating to a “sector underperform” rating and upped their price objective for the company from $8.20 to $8.60 in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. raised Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $12.00 to $16.00 in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Telecom Argentina Stet – France Telecom presently has an average rating of “Hold” and a consensus target price of $13.87.

Telecom Argentina Stet – France Telecom Price Performance

Shares of NYSE TEO opened at $12.42 on Wednesday. The stock’s 50-day simple moving average is $11.65 and its 200-day simple moving average is $11.79. The firm has a market capitalization of $5.35 billion, a PE ratio of 24.35 and a beta of 1.26. Telecom Argentina Stet – France Telecom has a fifty-two week low of $6.43 and a fifty-two week high of $13.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.46 and a current ratio of 0.58.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last announced its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. The company had revenue of $1.35 billion for the quarter. As a group, equities research analysts forecast that Telecom Argentina Stet – France Telecom will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TEO. Monaco Asset Management SAM purchased a new position in Telecom Argentina Stet – France Telecom in the 3rd quarter valued at $872,000. UBS Group AG increased its stake in Telecom Argentina Stet – France Telecom by 18.6% in the 3rd quarter. UBS Group AG now owns 233,626 shares of the utilities provider’s stock valued at $1,698,000 after buying an additional 36,642 shares during the period. Two Sigma Investments LP raised its position in Telecom Argentina Stet – France Telecom by 317.8% during the 3rd quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock worth $1,484,000 after buying an additional 155,299 shares during the last quarter. Millennium Management LLC raised its position in Telecom Argentina Stet – France Telecom by 160.8% during the 4th quarter. Millennium Management LLC now owns 125,593 shares of the utilities provider’s stock worth $1,458,000 after buying an additional 77,437 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth $302,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.