Telecom Argentina SA (NYSE:TEO) traded down 1.2% during trading on Tuesday . The stock traded as low as $17.96 and last traded at $18.04, with a volume of 51,767 shares traded. The stock had previously closed at $18.25.

Several brokerages have issued reports on TEO. Zacks Investment Research raised shares of Telecom Argentina SA from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Tuesday. TheStreet raised shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. HSBC raised shares of Telecom Argentina SA from a “reduce” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, May 12th. Finally, JPMorgan Chase & Co. raised shares of Telecom Argentina SA from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $15.50 to $20.00 in a research report on Thursday, May 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.74.

The firm’s 50 day moving average is $18.61 and its 200 day moving average is $18.29. The stock has a market cap of $3.50 billion and a price-to-earnings ratio of 16.29.

The company also recently announced a dividend, which will be paid on Friday, September 2nd. Stockholders of record on Thursday, August 25th will be paid a $0.455 dividend. The ex-dividend date is Tuesday, August 23rd.

A hedge fund recently raised its stake in Telecom Argentina SA stock. Morgan Stanley boosted its stake in shares of Telecom Argentina SA (NYSE:TEO) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,487,281 shares of the company’s stock after buying an additional 299,116 shares during the period. Morgan Stanley owned approximately 0.77% of Telecom Argentina SA worth $23,901,000 as of its most recent SEC filing.

Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.

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