According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
Separately, StockNews.com started coverage on shares of Telecom Argentina in a research report on Thursday, March 31st. They set a “hold” rating for the company.
Telecom Argentina (NYSE:TEO – Get Rating) last released its quarterly earnings data on Wednesday, March 9th. The utilities provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. Telecom Argentina had a net margin of 2.18% and a return on equity of 1.78%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $980.13 million. Research analysts expect that Telecom Argentina will post -0.28 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Redwood Capital Management LLC boosted its position in shares of Telecom Argentina by 75.8% in the third quarter. Redwood Capital Management LLC now owns 2,943,132 shares of the utilities provider’s stock valued at $14,569,000 after acquiring an additional 1,269,441 shares during the period. Marathon Asset Management LP increased its stake in shares of Telecom Argentina by 271.5% in the third quarter. Marathon Asset Management LP now owns 985,423 shares of the utilities provider’s stock valued at $4,878,000 after buying an additional 720,138 shares during the period. Morgan Stanley increased its stake in shares of Telecom Argentina by 3,359.6% in the second quarter. Morgan Stanley now owns 403,285 shares of the utilities provider’s stock valued at $2,145,000 after buying an additional 391,628 shares during the period. Autonomy Capital Jersey L.P. bought a new stake in Telecom Argentina in the fourth quarter valued at approximately $918,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Telecom Argentina by 305.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 230,266 shares of the utilities provider’s stock valued at $1,174,000 after acquiring an additional 173,445 shares during the last quarter. Institutional investors own 2.28% of the company’s stock.
About Telecom Argentina (Get Rating)
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; and other related supplementary services, such as call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.
- Get a free copy of the StockNews.com research report on Telecom Argentina (TEO)
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