Telecom Argentina (NYSE:TEO) Downgraded by StockNews.com

StockNews.com cut shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research report released on Wednesday.

Telecom Argentina Price Performance

Shares of TEO opened at $7.62 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $7.08. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $8.87.

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

Hedge Funds Weigh In On Telecom Argentina

A number of large investors have recently bought and sold shares of the company. Oaktree Capital Management LP boosted its position in Telecom Argentina by 0.4% during the 4th quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after acquiring an additional 10,000 shares during the last quarter. Jump Financial LLC boosted its position in 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 acquiring an additional 28,964 shares during the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in Telecom Argentina during the 3rd quarter worth approximately $180,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 acquiring an additional 38,149 shares during the last quarter. Finally, RWC Asset Advisors US LLC acquired a new position in Telecom Argentina during the 4th quarter worth approximately $2,212,000.

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.