Telecom Argentina (NYSE:TEO) Lifted to Hold at StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Telecom Argentina Price Performance

TEO stock traded up $0.67 during trading on Friday, hitting $8.58. The stock had a trading volume of 432,728 shares, compared to its average volume of 162,412. Telecom Argentina has a twelve month low of $4.50 and a twelve month high of $8.87. The company’s 50-day moving average price is $7.55 and its two-hundred day moving average price is $7.19. 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 issued its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $936.76 million. As a group, equities research analysts anticipate that Telecom Argentina will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds have recently added to or reduced their stakes in TEO. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 buying an additional 140,362 shares in the last quarter. Oaktree Capital Management LP boosted its holdings in 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 valued at $11,708,000 after acquiring an additional 410,415 shares during the last quarter. RWC Asset Management LLP purchased a new stake in Telecom Argentina during the fourth quarter valued at about $2,657,000. RWC Asset Advisors US LLC acquired a new stake in Telecom Argentina during the fourth quarter worth about $2,212,000. Finally, JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Telecom Argentina in the 3rd quarter worth about $180,000.

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.