Telecom Argentina (NYSE:TEO) Shares Down 4.3%

Telecom Argentina S.A. (NYSE:TEO) shares traded down 4.3% during mid-day trading on Friday . The company traded as low as $6.19 and last traded at $6.19. 4,040 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 469,845 shares. The stock had previously closed at $6.47.

A number of analysts have recently issued reports on the company. HSBC raised Telecom Argentina from a “reduce” rating to a “buy” rating in a research report on Tuesday, March 16th. Zacks Investment Research raised Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Friday.

The stock has a market cap of $2.67 billion, a P/E ratio of -161.75 and a beta of 0.39. The company has a current ratio of 0.60, a quick ratio of 0.56 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $5.16.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Monday, May 17th. The utilities provider reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.11. Telecom Argentina had a negative return on equity of 0.32% and a negative net margin of 0.41%. Analysts expect that Telecom Argentina S.A. will post -0.43 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co bought a new position in shares of Telecom Argentina during the first quarter worth approximately $85,000. Millennium Management LLC increased its stake in Telecom Argentina by 111.9% during the 1st quarter. Millennium Management LLC now owns 45,419 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 23,981 shares during the period. Morgan Stanley increased its stake in Telecom Argentina by 40.3% during the 1st quarter. Morgan Stanley now owns 11,657 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 3,346 shares during the period. Marathon Asset Management LP bought a new position in Telecom Argentina during the 1st quarter worth $1,656,000. Finally, Cubist Systematic Strategies LLC bought a new position in Telecom Argentina during the 1st quarter worth $86,000. Institutional investors own 3.74% of the company’s stock.

Telecom Argentina Company Profile (NYSE:TEO)

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as traffic and interconnection resource, dedicated Internet access, video signals transportation in standard and high definitions, audio and video streaming, dedicated links, backhaul links for mobile operators, Internet protocol virtual private network, video links, value-added, data center hosting/housing, and other services; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.

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