Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Gap Up – Still a Buy?

Shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) gapped up prior to trading on Friday . The stock had previously closed at $13.81, but opened at $15.25. Telecom Argentina Stet – France Telecom shares last traded at $15.00, with a volume of 303,386 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on TEO. Scotiabank raised their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $12.00 to $16.00 in a report on Wednesday, April 29th. Zacks Research upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Telecom Argentina Stet – France Telecom presently has an average rating of “Hold” and an average target price of $14.07.

Telecom Argentina Stet – France Telecom Price Performance

The company has a 50 day simple moving average of $11.83 and a 200 day simple moving average of $11.84. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The stock has a market cap of $6.23 billion, a P/E ratio of 28.40 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. The firm had revenue of $1.35 billion for the quarter. Sell-side analysts forecast that Telecom Argentina Stet – France Telecom S.A. will post 1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

A number of institutional investors and hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its position in Telecom Argentina Stet – France Telecom by 8.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 1,628 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Telecom Argentina Stet – France Telecom by 21.3% during the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock worth $237,000 after buying an additional 4,714 shares during the last quarter. EFG International AG bought a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter worth $58,000. Van ECK Associates Corp bought a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter worth $43,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Telecom Argentina Stet – France Telecom during the second quarter worth $110,000.

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.