Telecom Argentina (NYSE:TEO) Rating Increased to Hold at StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Telecom Argentina Stock Performance

Telecom Argentina stock opened at $7.05 on Tuesday. The firm’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $6.99. The company has a market cap of $3.04 billion, a P/E ratio of -4.73 and a beta of 0.86. 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.

Telecom Argentina (NYSE:TEO) last released its earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share for the quarter, topping the consensus estimate of ($2.24) by $0.08. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $936.76 million. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. As a group, equities research analysts predict that Telecom Argentina will post 0.36 EPS for the current year.

Institutional Trading of Telecom Argentina

Several institutional investors have recently made changes to their positions in TEO. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Telecom Argentina during the first quarter worth approximately $520,000. Renaissance Technologies LLC boosted 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 worth $1,485,000 after purchasing an additional 38,943 shares during the period. Eaton Vance Management acquired a new stake in shares of Telecom Argentina during the first quarter worth approximately $3,507,000. Virtu Financial LLC acquired a new stake in shares of Telecom Argentina during the second quarter worth approximately $62,000. Finally, Millennium Management LLC boosted its holdings in shares of Telecom Argentina by 225.6% during the second quarter. Millennium Management LLC now owns 351,550 shares of the utilities provider’s stock worth $1,600,000 after purchasing an additional 243,570 shares during the period.

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.