Telecom Argentina (NYSE:TEO) Lowered to Sell at StockNews.com

Telecom Argentina (NYSE:TEO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Telecom Argentina Stock Up 1.0 %

Shares of Telecom Argentina stock opened at $7.80 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. Telecom Argentina has a fifty-two week low of $4.50 and a fifty-two week high of $8.87. The firm has a fifty day moving average price of $7.54 and a two-hundred day moving average price of $7.08.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $936.76 million. Equities analysts anticipate that Telecom Argentina will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently made changes to their positions in TEO. JGP Global Gestao de Recursos Ltda. bought a new position in shares of Telecom Argentina during the 3rd quarter worth about $180,000. Jump Financial LLC increased its position in shares of Telecom Argentina by 209.1% during the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 28,964 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Telecom Argentina by 13.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock worth $1,521,000 after purchasing an additional 38,149 shares in the last quarter. RWC Asset Advisors US LLC acquired a new stake in shares of Telecom Argentina during the 4th quarter worth about $2,212,000. Finally, RWC Asset Management LLP acquired a new stake in shares of Telecom Argentina during the 4th quarter worth about $2,657,000.

About Telecom Argentina

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.