Telecom Argentina S.A. (NYSE:TEO – Get Free Report)’s stock price dropped 4.1% on Friday . The stock traded as low as $8.19 and last traded at $8.22. Approximately 82,971 shares changed hands during trading, a decline of 55% from the average daily volume of 185,417 shares. The stock had previously closed at $8.57.
Wall Street Analysts Forecast Growth
Separately, Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and increased their target price for the company from $5.70 to $6.10 in a research report on Friday, September 20th.
Get Our Latest Stock Analysis on Telecom Argentina
Telecom Argentina Stock Down 2.1 %
Telecom Argentina (NYSE:TEO – Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The utilities provider reported $0.15 EPS for the quarter. Telecom Argentina had a net margin of 1.01% and a return on equity of 0.69%. The firm had revenue of $967.38 million during the quarter. Equities research analysts predict that Telecom Argentina S.A. will post 1.71 EPS for the current fiscal year.
Hedge Funds Weigh In On Telecom Argentina
Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Telecom Argentina in the second quarter valued at approximately $334,000. PFG Investments LLC purchased a new stake in shares of Telecom Argentina in the second quarter valued at about $104,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina during the second quarter worth about $174,000.
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.
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