Telecom Argentina (NYSE:TEO) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group assumed coverage on shares of Telecom Argentina (NYSE:TEO) in a research report issued on Wednesday, StockNewsAPI reports. The firm set a “sell” rating on the utilities provider’s stock.

Separately, Scotiabank lowered Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their target price for the company from $5.70 to $6.10 in a research report on Friday, September 20th.

Telecom Argentina Stock Down 1.9 %

Shares of TEO opened at $8.11 on Wednesday. The company’s 50-day moving average price is $7.73 and its 200 day moving average price is $7.60. Telecom Argentina has a 12-month low of $4.88 and a 12-month high of $9.97. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.49 billion, a P/E ratio of 202.75 and a beta of 0.85.

Telecom Argentina (NYSE:TEO) last announced its quarterly 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 business had revenue of $967.38 million during the quarter. On average, sell-side analysts forecast that Telecom Argentina will post 1.71 earnings per share for the current year.

Institutional Trading of Telecom Argentina

A number of institutional investors and hedge funds have recently bought and sold shares of TEO. Cubist Systematic Strategies LLC acquired a new position in shares of Telecom Argentina in the second quarter valued at approximately $334,000. B. Riley Wealth Advisors Inc. acquired a new stake in Telecom Argentina during the 2nd quarter worth approximately $174,000. Finally, PFG Investments LLC purchased a new position in Telecom Argentina in the 2nd quarter valued at approximately $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.