Short Interest in Telecom Argentina SA (NYSE:TEO) Declines By 11.9%

Telecom Argentina SA (NYSE:TEO) saw a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 1,930,000 shares, a decline of 11.9% from the November 14th total of 2,190,000 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 235,500 shares, the short-interest ratio is currently 8.2 days.

Several equities research analysts have issued reports on TEO shares. ValuEngine raised shares of Telecom Argentina from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.50.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Telecom Argentina by 715.4% in the 2nd quarter. BlackRock Inc. now owns 3,761,730 shares of the utilities provider’s stock worth $66,470,000 after purchasing an additional 3,300,388 shares during the period. State Street Corp lifted its position in shares of Telecom Argentina by 2.9% in the 3rd quarter. State Street Corp now owns 2,433,036 shares of the utilities provider’s stock worth $24,330,000 after purchasing an additional 68,272 shares during the period. Oaktree Capital Management LP lifted its position in shares of Telecom Argentina by 14.8% in the 2nd quarter. Oaktree Capital Management LP now owns 1,198,000 shares of the utilities provider’s stock worth $21,169,000 after purchasing an additional 154,000 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Telecom Argentina in the 2nd quarter worth approximately $7,578,000. Finally, Northern Trust Corp lifted its position in shares of Telecom Argentina by 316.6% in the 2nd quarter. Northern Trust Corp now owns 416,939 shares of the utilities provider’s stock worth $7,367,000 after purchasing an additional 316,850 shares during the period. 3.40% of the stock is owned by hedge funds and other institutional investors.

Telecom Argentina stock traded up $0.31 during trading hours on Friday, hitting $10.17. The company had a trading volume of 243,382 shares, compared to its average volume of 344,020. The firm has a market cap of $4.45 billion, a P/E ratio of 29.91 and a beta of 0.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 0.85. Telecom Argentina has a 1 year low of $8.53 and a 1 year high of $18.55. The company has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $12.61.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data on Friday, November 15th. The utilities provider reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.57). Telecom Argentina had a net margin of 7.39% and a return on equity of 5.74%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $836.17 million. As a group, equities research analysts anticipate that Telecom Argentina will post 0.23 EPS for the current year.

Telecom Argentina Company Profile

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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