Telecom Argentina (NYSE:TEO) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Telecom Argentina S.A. (NYSE:TEO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.81 and traded as high as $11.49. Telecom Argentina shares last traded at $10.75, with a volume of 147,586 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEO. JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and raised their price target for the company from $10.00 to $13.00 in a research report on Tuesday, February 25th. StockNews.com raised Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group upped their price target on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th.

Telecom Argentina Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The firm has a market capitalization of $4.63 billion, a P/E ratio of -59.72 and a beta of 0.99. The company’s 50 day moving average price is $12.18 and its 200 day moving average price is $10.81.

Telecom Argentina (NYSE:TEO) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.64. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.19 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. As a group, sell-side analysts anticipate that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Institutional Trading of Telecom Argentina

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in Telecom Argentina by 113.3% in the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,081 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Telecom Argentina in the fourth quarter valued at $75,000. XTX Topco Ltd bought a new position in shares of Telecom Argentina in the third quarter valued at $80,000. Stifel Financial Corp bought a new stake in Telecom Argentina during the third quarter worth $91,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Telecom Argentina during the fourth quarter worth $106,000.

Telecom Argentina Company Profile

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.