Telecom Argentina (NYSE:TEO) Hits New 52-Week High – Here’s What Happened

Telecom Argentina S.A. (NYSE:TEO) hit a new 52-week high on Wednesday . The stock 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TEO. The Goldman Sachs Group started coverage on shares of Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. Scotiabank downgraded Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and raised their price objective for the company from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Trading Up 10.9 %

The business has a 50 day simple moving average of $8.08 and a 200-day simple moving average of $7.70. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 124.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.49 and a quick ratio of 0.46.

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

Hedge Funds Weigh In On Telecom Argentina

Several large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina in the second quarter worth $334,000. B. Riley Wealth Advisors Inc. bought a new stake in Telecom Argentina in the second quarter worth $174,000. Finally, PFG Investments LLC bought a new stake in shares of Telecom Argentina during the second quarter valued at approximately $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.