Telecom Argentina (NYSE:TEO) Stock Price Expected to Rise, Scotiabank Analyst Says

Telecom Argentina (NYSE:TEO) had its target price upped by equities researchers at Scotiabank from $6.10 to $6.20 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s price objective points to a potential downside of 44.19% from the company’s previous close.

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

Telecom Argentina Stock Up 3.0 %

Telecom Argentina stock opened at $11.11 on Thursday. The stock has a market capitalization of $4.79 billion, a PE ratio of -61.71 and a beta of 0.99. Telecom Argentina has a 12 month low of $5.52 and a 12 month high of $15.54. The business has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $10.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.64. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. On average, analysts anticipate that Telecom Argentina will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Telecom Argentina by 113.3% during the fourth quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,081 shares during the last quarter. Mariner LLC boosted its stake in Telecom Argentina by 8.1% during the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock worth $413,000 after buying an additional 2,467 shares during the last quarter. Advisors Preferred LLC acquired a new position in Telecom Argentina during the fourth quarter worth $75,000. XTX Topco Ltd boosted its stake in Telecom Argentina by 64.7% during the fourth quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock worth $220,000 after buying an additional 6,878 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Telecom Argentina during the fourth quarter worth $106,000.

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.