Telecom Argentina (NYSE:TEO) Stock Rating Lowered by Scotiabank

Scotiabank cut shares of Telecom Argentina (NYSE:TEO) from a sector perform rating to a sector underperform rating in a research note published on Friday morning, MarketBeat reports. The brokerage currently has $6.10 price target on the utilities provider’s stock, up from their prior price target of $5.70.

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 Trading Down 0.6 %

NYSE:TEO opened at $8.48 on Friday. The firm has a market cap of $3.65 billion, a P/E ratio of 212.00 and a beta of 0.85. Telecom Argentina has a 52 week low of $4.50 and a 52 week high of $9.97. The firm’s fifty day moving average is $7.10 and its 200-day moving average is $7.54. 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 (NYSE:TEO) last released its quarterly earnings data 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 firm had revenue of $967.38 million for the quarter. Equities analysts expect that Telecom Argentina will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Telecom Argentina

Several hedge funds have recently bought and sold shares of the stock. PFG Investments LLC purchased a new position in shares of Telecom Argentina in the second quarter worth $104,000. B. Riley Wealth Advisors Inc. bought a new position in Telecom Argentina in the 2nd quarter worth $174,000. Jump Financial LLC raised its holdings in 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 in the last quarter. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina in the 2nd quarter worth $334,000. Finally, Oaktree Capital Management LP raised its holdings in 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 worth $17,547,000 after purchasing an additional 10,000 shares in the last quarter.

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.