Telecom Argentina (NYSE:TEO) Hits New 12-Month Low at $10.08

Telecom Argentina SA (NYSE:TEO)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.08 and last traded at $10.31, with a volume of 225129 shares trading hands. The stock had previously closed at $11.17.

Several equities research analysts have recently issued reports on TEO shares. Bank of America lowered Telecom Argentina from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Thursday, August 8th. Scotiabank upgraded Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 price target for the company in a research note on Monday, August 12th. Zacks Investment Research downgraded Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, ValuEngine downgraded Telecom Argentina from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Telecom Argentina currently has a consensus rating of “Sell” and a consensus price target of $12.50.

The firm has a 50 day simple moving average of $15.91 and a 200 day simple moving average of $15.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.65 and a current ratio of 0.70. The firm has a market cap of $4.81 billion, a P/E ratio of 32.24 and a beta of 0.64.

Telecom Argentina (NYSE:TEO) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Telecom Argentina had a return on equity of 5.85% and a net margin of 6.83%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sell-side analysts predict that Telecom Argentina SA will post 0.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of TEO. KBC Group NV bought a new position in Telecom Argentina in the 2nd quarter worth about $54,000. DekaBank Deutsche Girozentrale bought a new position in Telecom Argentina in the 2nd quarter worth about $94,000. Marshall Wace North America L.P. boosted its stake in Telecom Argentina by 2,108.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 11,044 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 10,544 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Telecom Argentina in the 2nd quarter worth about $212,000. Finally, Teacher Retirement System of Texas bought a new position in Telecom Argentina in the 2nd quarter worth about $236,000. Institutional investors and hedge funds own 3.60% of the company’s stock.

About Telecom Argentina (NYSE:TEO)

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.

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