Telecom Argentina SA (NYSE:TEO) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,470,000 shares, a growth of 70.0% from the September 30th total of 864,800 shares. Based on an average daily volume of 317,200 shares, the days-to-cover ratio is currently 4.6 days. Currently, 1.2% of the shares of the stock are short sold.

Several brokerages recently weighed in on TEO. ValuEngine downgraded shares of Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research downgraded shares of Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Bank of America downgraded shares of Telecom Argentina from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday, August 8th. Finally, Scotiabank raised shares of Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 price objective for the company in a research note on Monday, August 12th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus price target of $12.50.

Shares of NYSE:TEO traded down $0.13 during trading on Thursday, reaching $8.64. 163,917 shares of the stock were exchanged, compared to its average volume of 353,382. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.65 and a current ratio of 0.70. Telecom Argentina has a 12-month low of $8.53 and a 12-month high of $18.55. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 25.41 and a beta of 0.89. The firm’s 50-day moving average price is $9.81 and its 200 day moving average price is $13.30.

The firm also recently announced a Variable dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 21st were given a $0.648 dividend. This represents a dividend yield of 11.8%. The ex-dividend date was Friday, October 18th. Telecom Argentina’s payout ratio is 364.71%.

Hedge funds have recently bought and sold shares of the stock. Gulf International Bank UK Ltd purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $254,000. Fox Run Management L.L.C. purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $271,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $805,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $4,817,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Telecom Argentina during the second quarter valued at approximately $1,629,000. 3.71% of the stock is currently owned by institutional investors and hedge funds.

Telecom Argentina Company Profile

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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