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

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research report report published on Friday morning.

Telecom Argentina Stock Performance

TEO stock opened at $8.75 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $9.00. The company’s 50 day simple moving average is $7.57 and its 200-day simple moving average is $7.23.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 13.68% and a negative return on equity of 10.49%. On average, 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 institutional investors and hedge funds have recently bought and sold shares of TEO. Oaktree Capital Management LP lifted its position in shares of Telecom Argentina by 0.4% in the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after purchasing an additional 10,000 shares in the last quarter. Jump Financial LLC lifted its position in Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after buying an additional 28,964 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina during the 3rd quarter valued at $180,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Telecom Argentina by 13.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock valued at $1,521,000 after acquiring an additional 38,149 shares in the last quarter. Finally, RWC Asset Advisors US LLC acquired a new position in shares of Telecom Argentina in the fourth quarter worth $2,212,000.

About Telecom Argentina

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.