Telecom Argentina (NYSE:TEO) Downgraded to “Sector Underperform” at Scotiabank

Scotiabank cut shares of Telecom Argentina (NYSE:TEO) from a sector perform rating to a sector underperform rating in a report released on Friday, Marketbeat.com reports. Scotiabank currently has $6.10 price objective on the utilities provider’s stock, up from their prior price objective of $5.70.

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 Trading Down 0.6 %

Shares of NYSE:TEO opened at $8.48 on Friday. Telecom Argentina has a 12 month low of $4.50 and a 12 month high of $9.97. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $7.10 and its 200 day simple moving average is $7.54. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 212.00 and a beta of 0.85.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data 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 business had revenue of $967.38 million for the quarter. As a group, research analysts forecast that Telecom Argentina will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TEO. Jump Financial LLC boosted its holdings in shares of 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 buying an additional 28,964 shares during the period. Oaktree Capital Management LP raised its position in shares of Telecom Argentina by 0.4% in 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 in the last quarter. PFG Investments LLC acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at approximately $104,000. Cubist Systematic Strategies LLC acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at approximately $334,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at approximately $174,000.

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.