Telecom Argentina Stet – France Telecom (NYSE:TEO) Issues Quarterly Earnings Results

Telecom Argentina Stet – France Telecom (NYSE:TEO) announced its quarterly earnings data on Saturday. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.11, Zacks reports. 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 $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion.

Telecom Argentina Stet – France Telecom Stock Performance

Telecom Argentina Stet – France Telecom stock traded up $0.04 during mid-day trading on Friday, hitting $13.85. The company had a trading volume of 318,011 shares, compared to its average volume of 213,896. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. Telecom Argentina Stet – France Telecom has a 12-month low of $6.43 and a 12-month high of $16.34. The company’s fifty day moving average is $13.63 and its 200-day moving average is $12.47. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 27.15 and a beta of 1.36.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In other news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the acquisition, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Telecom Argentina Stet – France Telecom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEO. Acadian Asset Management LLC purchased a new position in Telecom Argentina Stet – France Telecom in the first quarter valued at $379,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Telecom Argentina Stet – France Telecom by 321.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider’s stock worth $925,000 after acquiring an additional 79,893 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $346,000. Jump Financial LLC purchased a new position in shares of Telecom Argentina Stet – France Telecom during the 2nd quarter valued at approximately $596,000. Finally, Jane Street Group LLC acquired a new stake in Telecom Argentina Stet – France Telecom in the 2nd quarter valued at $578,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on TEO shares. Scotiabank upped their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their target price on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, June 9th. Finally, Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $13.00 to $17.00 in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.55.

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.