Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Gap Down After Analyst Downgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s stock price gapped down prior to trading on Friday after Scotiabank downgraded the stock from a sector perform rating to a sector underperform rating. The stock had previously closed at $11.62, but opened at $11.07. Scotiabank now has a $8.60 price target on the stock. Telecom Argentina Stet – France Telecom shares last traded at $11.24, with a volume of 84,858 shares changing hands.

TEO has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a research note on Monday, December 29th. Zacks Research upgraded Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Telecom Argentina Stet – France Telecom currently has an average rating of “Reduce” and an average target price of $11.70.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Hedge funds and other institutional investors have recently modified their holdings of the company. RWC Asset Management LLP lifted its holdings in shares of Telecom Argentina Stet – France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock worth $11,717,000 after acquiring an additional 339,416 shares during the last quarter. Sagil Capital LLP bought a new position in shares of Telecom Argentina Stet – France Telecom during the 4th quarter valued at $7,629,000. Banco BTG Pactual S.A. purchased a new position in Telecom Argentina Stet – France Telecom in the 3rd quarter worth $2,725,000. UBS Group AG raised its position in Telecom Argentina Stet – France Telecom by 25.7% in the 4th quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock worth $3,409,000 after purchasing an additional 60,033 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Telecom Argentina Stet – France Telecom by 317.8% in the third quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock worth $1,484,000 after purchasing an additional 155,299 shares during the last quarter.

Telecom Argentina Stet – France Telecom Price Performance

The firm’s 50 day simple moving average is $11.76 and its two-hundred day simple moving average is $10.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.48 and a quick ratio of 0.46. The firm has a market capitalization of $4.79 billion, a P/E ratio of -33.68 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last released its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. Telecom Argentina Stet – France Telecom had a negative return on equity of 2.53% and a negative net margin of 2.17%.The company had revenue of $1.35 billion during the quarter. As a group, analysts predict that Telecom Argentina Stet – France Telecom S.A. will post 1.28 earnings per share for the current year.

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.