Shares of Telecom Argentina (NYSE:TEO) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $38.00.

Several brokerages have issued reports on TEO. HSBC downgraded Telecom Argentina from a “hold” rating to a “reduce” rating in a research report on Thursday, February 22nd. Zacks Investment Research downgraded Telecom Argentina from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. Citigroup began coverage on Telecom Argentina in a research report on Monday, January 8th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Morgan Stanley downgraded Telecom Argentina from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, April 3rd.

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TEO traded up $0.02 during trading on Thursday, hitting $30.67. The company’s stock had a trading volume of 16,325 shares, compared to its average volume of 192,686. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 0.83. Telecom Argentina has a 12 month low of $22.28 and a 12 month high of $40.19. The company has a market cap of $5,950.64, a price-to-earnings ratio of 13.47, a PEG ratio of 1.02 and a beta of 1.13.

The company also recently announced a special dividend, which was paid on Wednesday, March 28th. Stockholders of record on Tuesday, March 20th were given a dividend of $0.7874 per share. The ex-dividend date of this dividend was Monday, March 19th. This represents a dividend yield of 4.36%. This is an increase from Telecom Argentina’s previous special dividend of $0.37. Telecom Argentina’s payout ratio is presently 246.76%.

Several hedge funds have recently added to or reduced their stakes in TEO. State Street Corp raised its position in shares of Telecom Argentina by 55.4% during the second quarter. State Street Corp now owns 25,021 shares of the utilities provider’s stock worth $634,000 after acquiring an additional 8,919 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Telecom Argentina by 475.1% during the third quarter. JPMorgan Chase & Co. now owns 228,135 shares of the utilities provider’s stock worth $6,963,000 after acquiring an additional 188,465 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Telecom Argentina during the third quarter worth $409,000. Janney Montgomery Scott LLC bought a new stake in shares of Telecom Argentina during the third quarter worth $763,000. Finally, Belpointe Asset Management LLC bought a new stake in shares of Telecom Argentina during the third quarter worth $2,055,000. Institutional investors own 8.17% of the company’s stock.

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Telecom Argentina Company Profile

Telecom Argentina SA provides local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services in Argentina. It also offers cellular services in Paraguay and pay TV services in Uruguay. The company was formerly known as CablevisiĆ³n SA and changed its name to Telecom Argentina SA in January 2018.

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