Telecom Argentina (NYSE:TEO) Trading 4.8% Higher – Here’s Why

Telecom Argentina S.A. (NYSE:TEO)’s stock price traded up 4.8% during trading on Monday . The company traded as high as $11.50 and last traded at $11.48. 26,625 shares changed hands during trading, a decline of 88% from the average session volume of 214,844 shares. The stock had previously closed at $10.95.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEO. The Goldman Sachs Group lifted their target price on Telecom Argentina from $8.30 to $9.50 and gave the stock a “sell” rating in a report on Wednesday, April 23rd. Scotiabank reaffirmed an “underperform” rating on shares of Telecom Argentina in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised Telecom Argentina from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th.

Telecom Argentina Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The company has a market capitalization of $4.86 billion, a PE ratio of -62.58 and a beta of 1.28. The firm’s fifty day simple moving average is $10.40 and its 200 day simple moving average is $11.69.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.44. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.08 billion. On average, research analysts predict that Telecom Argentina S.A. will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Telecom Argentina by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,872 shares of the utilities provider’s stock valued at $25,270,000 after acquiring an additional 152,837 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina during the 1st quarter valued at $329,000. Hsbc Holdings PLC bought a new position in shares of Telecom Argentina in the 1st quarter worth about $119,000. Invesco Ltd. increased its stake in Telecom Argentina by 19.8% during the 1st quarter. Invesco Ltd. now owns 56,029 shares of the utilities provider’s stock valued at $571,000 after buying an additional 9,243 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of Telecom Argentina in the 1st quarter worth approximately $271,000.

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.