Telecom Argentina Stet – France Telecom (NYSE:TEO) Downgraded by Scotiabank to Sector Underperform

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a research note issued to investors on Friday, MarketBeat.com reports. They presently have a $8.60 price objective on the utilities provider’s stock. Scotiabank’s price objective suggests a potential downside of 23.24% from the company’s current price.

A number of other brokerages also recently issued reports on TEO. Zacks Research raised shares of Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $11.70.

Telecom Argentina Stet – France Telecom Price Performance

TEO stock traded down $0.42 during midday trading on Friday, reaching $11.20. 40,209 shares of the stock were exchanged, compared to its average volume of 267,007. The company has a fifty day moving average price of $11.76 and a 200 day moving average price of $10.73. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.48 and a quick ratio of 0.46. Telecom Argentina Stet – France Telecom has a 52 week low of $6.43 and a 52 week high of $13.81. The stock has a market capitalization of $4.83 billion, a PE ratio of -33.86 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. The business had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a negative return on equity of 2.53% and a negative net margin of 2.17%. As a group, analysts expect that Telecom Argentina Stet – France Telecom will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

A number of institutional investors have recently made changes to their positions in the business. Sagil Capital LLP purchased a new position in shares of Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $7,629,000. Banco BTG Pactual S.A. purchased a new stake in Telecom Argentina Stet – France Telecom in the third quarter worth $2,725,000. RWC Asset Management LLP boosted its holdings in Telecom Argentina Stet – France Telecom by 50.7% in the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after acquiring an additional 339,416 shares in the last quarter. Marshall Wace LLP purchased a new position in Telecom Argentina Stet – France Telecom during the 4th quarter valued at $1,969,000. Finally, Two Sigma Investments LP increased its position in Telecom Argentina Stet – France Telecom by 317.8% during the 3rd quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock valued at $1,484,000 after purchasing an additional 155,299 shares during the period.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.