Telecom Argentina Stet – France Telecom (NYSE:TEO) Sees Large Volume Increase After Analyst Upgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) saw strong trading volume on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 309,586 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 282,800 shares.The stock last traded at $12.1420 and had previously closed at $11.82.

A number of other brokerages have also recently commented on TEO. JPMorgan Chase & Co. upgraded Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.00 to $16.00 in a report on Wednesday, April 29th. Scotiabank cut Telecom Argentina Stet – France Telecom from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the stock from $8.20 to $8.60 in a report on Friday, March 27th. Finally, Weiss Ratings cut Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.87.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter worth $43,000. EFG International AG bought a new position in shares of Telecom Argentina Stet – France Telecom during the 4th quarter worth $58,000. Qube Research & Technologies Ltd bought a new position in shares of Telecom Argentina Stet – France Telecom during the 3rd quarter worth $98,000. Engineers Gate Manager LP bought a new position in shares of Telecom Argentina Stet – France Telecom during the 2nd quarter worth $110,000. Finally, Hsbc Holdings PLC bought a new position in shares of Telecom Argentina Stet – France Telecom during the 4th quarter worth $171,000.

Telecom Argentina Stet – France Telecom Stock Down 4.8%

The company has a current ratio of 0.58, a quick ratio of 0.46 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $11.66 and a 200-day moving average price of $11.79. The firm has a market cap of $5.09 billion, a P/E ratio of 23.18 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Telecom Argentina Stet – France Telecom had a return on equity of 4.05% and a net margin of 3.33%.The business had revenue of $1.35 billion for the quarter. On average, equities analysts forecast that Telecom Argentina Stet – France Telecom S.A. will post 0.67 EPS for the current fiscal year.

About Telecom Argentina Stet – France Telecom

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.