Telecom Argentina (NYSE:TEO) Lifted to Sector Perform at Scotiabank

Scotiabank upgraded shares of Telecom Argentina (NYSE:TEO) from a sector underperform rating to a sector perform rating in a report issued on Tuesday morning, Marketbeat.com reports.

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

Telecom Argentina Stock Performance

TEO opened at $6.72 on Tuesday. Telecom Argentina has a fifty-two week low of $4.50 and a fifty-two week high of $9.97. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $6.96 and its two-hundred day moving average price is $7.55.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.87 earnings per share for the quarter. Telecom Argentina had a net margin of 0.42% and a return on equity of 0.30%. The firm had revenue of $820.02 million for the quarter. On average, equities analysts anticipate that Telecom Argentina will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Telecom Argentina

Several institutional investors and hedge funds have recently modified their holdings of the business. PFG Investments LLC bought a new stake in Telecom Argentina during the second quarter worth $104,000. Oaktree Capital Management LP boosted its stake in shares of Telecom Argentina by 0.4% during the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock valued at $17,547,000 after purchasing an additional 10,000 shares in the last quarter. Jump Financial LLC grew its holdings 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. RWC Asset Management LLP acquired a new position in Telecom Argentina during the 4th quarter worth about $2,657,000. Finally, RWC Asset Advisors US LLC bought a new stake in Telecom Argentina in the fourth quarter valued at approximately $2,212,000.

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.