StockNews.com Downgrades Telecom Argentina (NYSE:TEO) to Sell

Telecom Argentina (NYSE:TEO) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Telecom Argentina Stock Performance

TEO stock opened at $7.62 on Wednesday. The firm’s 50-day moving average price is $7.54 and its two-hundred day moving average price is $7.09. Telecom Argentina has a 12-month low of $4.50 and a 12-month high of $8.87. 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 (NYSE:TEO) last released its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.24) by $0.08. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $936.76 million. As a group, analysts expect that Telecom Argentina will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Telecom Argentina

A number of hedge funds have recently modified their holdings of TEO. Oaktree Capital Management LP increased its position in shares of Telecom Argentina by 20.2% in the third quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock valued at $11,708,000 after acquiring an additional 410,415 shares during the period. RWC Asset Management LLP purchased a new position in shares of Telecom Argentina during the fourth quarter valued at about $2,657,000. RWC Asset Advisors US LLC purchased a new position in shares of Telecom Argentina during the fourth quarter valued at about $2,212,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Telecom Argentina by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock valued at $3,274,000 after buying an additional 140,362 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Telecom Argentina during the third quarter valued at about $180,000.

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.