Telecom Argentina (NYSE:TEO) Stock Rating Upgraded by StockNews.com

Telecom Argentina (NYSE:TEO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Telecom Argentina Price Performance

TEO opened at $7.05 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.42 and a current ratio of 0.44. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $8.87. The stock has a market capitalization of $3.04 billion, a PE ratio of -4.73 and a beta of 0.86. The stock’s 50 day moving average price is $7.53 and its 200-day moving average price is $6.99.

Telecom Argentina (NYSE:TEO) last posted its earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.24) by $0.08. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $936.76 million. On average, equities research analysts predict that Telecom Argentina will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Telecom Argentina

Several hedge funds have recently made changes to their positions in TEO. Barclays PLC bought a new stake in shares of Telecom Argentina during the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC bought a new stake in shares of Telecom Argentina during the third quarter valued at approximately $37,000. Bank of America Corp DE boosted its position in shares of Telecom Argentina by 627.6% during the fourth quarter. Bank of America Corp DE now owns 10,085 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 8,699 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Telecom Argentina during the second quarter valued at approximately $62,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Telecom Argentina during the first quarter valued at approximately $62,000.

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.