Telecom Argentina SA (TEO) Downgraded by Zacks Investment Research to “Hold”
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. “
TEO has been the subject of several other research reports. TheStreet upgraded shares of Telecom Argentina SA from a hold rating to a buy rating in a research note on Monday, July 11th. Morgan Stanley upgraded shares of Telecom Argentina SA from an equal weight rating to an overweight rating and lifted their price objective for the company from $18.00 to $23.00 in a research note on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $20.28.
Shares of Telecom Argentina SA (NYSE:TEO) opened at 18.74 on Tuesday. The firm has a market cap of $3.63 billion, a PE ratio of 17.60 and a beta of 1.35. The stock’s 50 day moving average is $18.36 and its 200-day moving average is $18.45. Telecom Argentina SA has a 1-year low of $14.03 and a 1-year high of $20.28.
A number of hedge funds have recently made changes to their positions in the stock. James Investment Research Inc. raised its stake in shares of Telecom Argentina SA by 33.6% in the second quarter. James Investment Research Inc. now owns 15,900 shares of the company’s stock worth $291,000 after buying an additional 4,000 shares during the period. Royal Bank of Canada raised its stake in shares of Telecom Argentina SA by 1,581.4% in the first quarter. Royal Bank of Canada now owns 16,814 shares of the company’s stock worth $300,000 after buying an additional 15,814 shares during the period. Cambiar Investors LLC acquired a new stake in shares of Telecom Argentina SA during the second quarter worth approximately $372,000. John G Ullman & Associates Inc. acquired a new stake in shares of Telecom Argentina SA during the second quarter worth approximately $374,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Telecom Argentina SA during the second quarter worth approximately $547,000. Institutional investors and hedge funds own 8.64% of the company’s stock.
Telecom Argentina SA Company Profile
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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