Telecom Argentina (NYSE:TEO) Stock Price Down 3.4% – What’s Next?

Telecom Argentina S.A. (NYSE:TEO)’s stock price dropped 3.4% on Monday . The company traded as low as $10.99 and last traded at $10.93. Approximately 79,232 shares traded hands during trading, a decline of 63% from the average daily volume of 212,173 shares. The stock had previously closed at $11.31.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank upped their price target on Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $13.00 in a report on Tuesday, February 25th.

Telecom Argentina Price Performance

The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -59.66 and a beta of 0.99. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $11.61 and a 200 day simple moving average of $11.11.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.64. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.19 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. On average, equities research analysts forecast that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Institutional Trading of Telecom Argentina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEO. GAMMA Investing LLC raised its stake in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,081 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of Telecom Argentina during the fourth quarter valued at about $75,000. XTX Topco Ltd acquired a new stake in Telecom Argentina during the third quarter worth about $80,000. Stifel Financial Corp acquired a new stake in Telecom Argentina during the third quarter worth about $91,000. Finally, Atlas Capital Advisors Inc. bought a new position in Telecom Argentina during the fourth quarter valued at about $106,000.

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.