Telecom Argentina (NYSE:TEO) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a report published on Tuesday.

Telecom Argentina Stock Performance

Shares of Telecom Argentina stock opened at $7.20 on Tuesday. Telecom Argentina has a 12 month low of $4.50 and a 12 month high of $8.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. The business has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $6.99.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.24) by $0.08. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $936.76 million. On average, research analysts expect that Telecom Argentina will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership bought a new position in Telecom Argentina in the 1st quarter worth about $520,000. Renaissance Technologies LLC grew its holdings in shares of Telecom Argentina by 18.7% during the first quarter. Renaissance Technologies LLC now owns 247,143 shares of the utilities provider’s stock valued at $1,485,000 after buying an additional 38,943 shares during the last quarter. Eaton Vance Management bought a new stake in shares of Telecom Argentina during the first quarter valued at approximately $3,507,000. Virtu Financial LLC purchased a new position in Telecom Argentina in the 2nd quarter worth approximately $62,000. Finally, Millennium Management LLC lifted its position in Telecom Argentina by 225.6% in the 2nd quarter. Millennium Management LLC now owns 351,550 shares of the utilities provider’s stock valued at $1,600,000 after acquiring an additional 243,570 shares in the last quarter.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.