Telecom Argentina (NYSE:TEO) Rating Increased to Buy at Zacks Investment Research

Telecom Argentina (NYSE:TEOGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $6.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.64% from the stock’s current price.

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 upgraded shares of Telecom Argentina from a “hold” rating to a “buy” rating in a report on Monday, May 23rd.

Shares of TEO opened at $5.28 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.46 and a quick ratio of 0.45. The company has a market capitalization of $2.27 billion, a PE ratio of 10.78 and a beta of 0.46. The company’s fifty day moving average price is $5.68 and its 200 day moving average price is $5.33. Telecom Argentina has a one year low of $4.72 and a one year high of $6.59.

Telecom Argentina (NYSE:TEOGet Rating) last released its quarterly earnings results on Wednesday, March 9th. The utilities provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. Telecom Argentina had a net margin of 4.84% and a return on equity of 3.89%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $980.13 million. Analysts anticipate that Telecom Argentina will post -0.26 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. MQS Management LLC bought a new stake in shares of Telecom Argentina in the 4th quarter valued at $68,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Telecom Argentina in the 4th quarter worth about $107,000. Schonfeld Strategic Advisors LLC raised its stake in Telecom Argentina by 3.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 73,500 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 2,600 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Telecom Argentina by 40.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 219,154 shares of the utilities provider’s stock valued at $1,118,000 after acquiring an additional 63,423 shares during the period. Finally, Marathon Asset Management LP increased its position in shares of Telecom Argentina by 271.5% during 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. 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.

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