StockNews.com Upgrades Telecom Argentina (NYSE:TEO) to Hold

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

Telecom Argentina Stock Up 8.5 %

NYSE:TEO opened at $8.58 on Friday. The stock has a 50 day simple moving average of $7.57 and a 200 day simple moving average of $7.21. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. Telecom Argentina has a 1-year low of $4.50 and a 1-year high of $8.87.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share for the quarter, topping the consensus estimate of ($2.24) by $0.08. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $936.76 million. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. As a group, research analysts expect that Telecom Argentina will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Telecom Argentina

Several hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Telecom Argentina by 13.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock worth $1,521,000 after buying an additional 38,149 shares in the last quarter. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Telecom Argentina during the 3rd quarter worth $180,000. Oaktree Capital Management LP raised its holdings in shares of Telecom Argentina by 20.2% during the 3rd quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock worth $11,708,000 after buying an additional 410,415 shares in the last quarter. RWC Asset Advisors US LLC acquired a new position in shares of Telecom Argentina during the 4th quarter worth $2,212,000. Finally, RWC Asset Management LLP acquired a new position in shares of Telecom Argentina during the 4th quarter worth $2,657,000.

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.