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

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

Telecom Argentina Stock Up 2.4 %

Shares of NYSE:TEO traded up $0.17 during midday trading on Tuesday, reaching $7.20. The company’s stock had a trading volume of 243,742 shares, compared to its average volume of 162,862. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $7.53 and a two-hundred day moving average price of $6.99. Telecom Argentina has a fifty-two week low of $4.50 and a fifty-two week high of $8.87.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TEO. Barclays PLC acquired a new position in Telecom Argentina during the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC acquired a new position in Telecom Argentina during the 3rd quarter worth approximately $37,000. Bank of America Corp DE raised its stake in Telecom Argentina by 627.6% during the 4th quarter. Bank of America Corp DE now owns 10,085 shares of the utilities provider’s stock worth $55,000 after buying an additional 8,699 shares during the period. Virtu Financial LLC acquired a new position in Telecom Argentina during the 2nd quarter worth approximately $62,000. Finally, Susquehanna International Group LLP acquired a new position in Telecom Argentina during the 1st quarter worth approximately $62,000.

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.