Telecom Argentina (NYSE:TEO) Downgraded by Scotiabank

Telecom Argentina (NYSE:TEO) was downgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a report issued on Friday, FinViz reports.

Separately, StockNews.com upgraded shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th.

Telecom Argentina Stock Performance

Shares of TEO stock opened at $8.56 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.46 and a current ratio of 0.49. Telecom Argentina has a fifty-two week low of $4.50 and a fifty-two week high of $9.97. The business has a fifty day simple moving average of $7.02 and a 200-day simple moving average of $7.51.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Thursday, August 15th. The utilities provider reported $0.15 EPS for the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. The firm had revenue of $967.38 million for the quarter. On average, analysts predict that Telecom Argentina will post 1.71 earnings per share for the current 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 company. Oaktree Capital Management LP boosted its stake in shares of 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 valued at $17,547,000 after buying an additional 10,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina during the 2nd quarter worth $334,000. Jump Financial LLC increased its position in shares of Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 28,964 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Telecom Argentina in the 2nd quarter valued at about $174,000. Finally, PFG Investments LLC acquired a new stake in shares of Telecom Argentina in the 2nd quarter valued at about $104,000.

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.