Telecom Argentina (TEO) Raised to “Hold” at Zacks Investment Research
According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
A number of other equities research analysts have also recently commented on the company. ValuEngine cut Telecom Argentina from a hold rating to a sell rating in a report on Monday, February 4th. Santander upgraded Telecom Argentina from an underperform rating to a hold rating in a report on Friday, December 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Telecom Argentina currently has a consensus rating of Hold.
Telecom Argentina (NYSE:TEO) last announced its earnings results on Friday, March 8th. The utilities provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.96. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Telecom Argentina had a return on equity of 0.33% and a net margin of 0.33%. As a group, equities research analysts forecast that Telecom Argentina will post 0.95 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Oaktree Capital Management LP boosted its holdings in shares of Telecom Argentina by 31.8% during the fourth quarter. Oaktree Capital Management LP now owns 939,000 shares of the utilities provider’s stock worth $14,611,000 after purchasing an additional 226,500 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Telecom Argentina by 52.8% during the third quarter. Wells Fargo & Company MN now owns 36,813 shares of the utilities provider’s stock worth $641,000 after purchasing an additional 12,717 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Telecom Argentina during the third quarter worth $270,000. Tibra Equities Europe Ltd acquired a new stake in shares of Telecom Argentina during the first quarter worth $1,870,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Telecom Argentina during the fourth quarter worth $341,000. Institutional investors and hedge funds own 6.60% of the company’s stock.
About Telecom Argentina
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.
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