Telecom Argentina (NYSE:TEO) Stock Price Down 3.4% – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) shares were down 3.4% during mid-day trading on Monday . The company traded as low as $10.99 and last traded at $10.93. Approximately 79,232 shares changed 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 Ratings Changes

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

Telecom Argentina Trading Down 3.4 %

The firm has a 50 day simple moving average of $11.71 and a two-hundred day simple moving average of $11.06. The firm has a market capitalization of $4.70 billion, a P/E ratio of -60.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40.

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

Institutional Investors Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently bought and sold shares of TEO. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Telecom Argentina in the fourth quarter worth about $853,000. Stifel Financial Corp bought a new position in Telecom Argentina in the 3rd quarter valued at $91,000. XTX Topco Ltd purchased a new position in shares of Telecom Argentina during the 3rd quarter valued at $80,000. Centiva Capital LP bought a new position in Telecom Argentina in the 3rd quarter worth about $123,000. Finally, Advisors Preferred LLC bought a new stake in shares of Telecom Argentina during the 4th quarter valued at about $75,000.

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.