Telecom Argentina SA (TEO) Shares Down 1.6%
Shares of Telecom Argentina SA (NYSE:TEO) were down 1.6% on Monday . The company traded as low as $18.99 and last traded at $19.15, with a volume of 62,055 shares traded. The stock had previously closed at $19.46.
A number of analysts recently weighed in on TEO shares. HSBC raised shares of Telecom Argentina SA from a “reduce” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, May 12th. TheStreet raised shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Zacks Investment Research raised shares of Telecom Argentina SA from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. Finally, JPMorgan Chase & Co. raised shares of Telecom Argentina SA from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $15.50 to $20.00 in a research report on Thursday, May 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.94.
The company has a 50-day moving average price of $18.75 and a 200 day moving average price of $17.76. The company has a market cap of $3.73 billion and a price-to-earnings ratio of 16.44.
A hedge fund recently raised its stake in Telecom Argentina SA stock. Morgan Stanley raised its position in Telecom Argentina SA (NYSE:TEO) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 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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