Telecom Argentina (NYSE:TEO) Stock Price Down 4.1% – Here’s What Happened

Telecom Argentina S.A. (NYSE:TEO) shares dropped 4.1% during trading on Friday . The company traded as low as $8.19 and last traded at $8.22. Approximately 82,971 shares traded hands during trading, a decline of 55% from the average daily volume of 185,417 shares. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

Separately, Scotiabank downgraded Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their price target for the stock from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Stock Performance

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 capitalization of $3.61 billion, a PE ratio of 214.63 and a beta of 0.85. The stock’s 50 day moving average price is $7.66 and its two-hundred day moving average price is $7.59.

Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data on Thursday, August 15th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $967.38 million for the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. On average, equities analysts expect that Telecom Argentina S.A. will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Telecom Argentina

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Telecom Argentina during the 2nd quarter worth $334,000. PFG Investments LLC acquired a new stake in Telecom Argentina during the second quarter worth about $104,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Telecom Argentina in the 2nd quarter worth about $174,000.

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.