Telecom Argentina (NYSE:TEO) Sets New 52-Week High – Time to Buy?

Telecom Argentina S.A. (NYSE:TEO) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $11.31 and last traded at $11.24, with a volume of 556604 shares traded. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TEO shares. The Goldman Sachs Group assumed coverage on shares of Telecom Argentina in a report on Wednesday, October 23rd. They set a “sell” rating for the company. Scotiabank lowered Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price objective for the stock from $5.70 to $6.10 in a research report on Friday, September 20th.

Telecom Argentina Stock Up 10.9 %

The firm has a fifty day moving average price of $8.08 and a 200-day moving average price of $7.70. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 124.89 and a beta of 0.82. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.37.

Telecom Argentina (NYSE:TEO) last released its earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share for the quarter. Telecom Argentina had a net margin of 1.01% and a return on equity of 0.69%. The company had revenue of $967.38 million during the quarter. As a group, sell-side analysts forecast that Telecom Argentina S.A. will post 1.71 EPS for the current year.

Institutional Trading of Telecom Argentina

Several large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina in the 2nd quarter worth approximately $334,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Telecom Argentina during the second quarter worth approximately $174,000. Finally, PFG Investments LLC acquired a new position in shares of Telecom Argentina in the 2nd quarter valued at $104,000.

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.