Telecom Argentina (NYSE:TEO) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research note published on Wednesday.

Telecom Argentina Stock Up 4.9 %

Telecom Argentina stock opened at $7.99 on Wednesday. The stock’s 50 day moving average is $7.54 and its 200 day moving average is $7.12. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. Telecom Argentina has a one year low of $4.50 and a one year high of $8.87.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings data on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $936.76 million. Telecom Argentina had a negative return on equity of 10.49% and a negative net margin of 13.68%. On average, research analysts anticipate that Telecom Argentina will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

A number of hedge funds and other institutional investors have recently made changes to their positions in TEO. Oaktree Capital Management LP lifted its stake in Telecom Argentina by 0.4% in the fourth quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock valued at $17,547,000 after buying an additional 10,000 shares during the period. Jump Financial LLC lifted its stake in Telecom Argentina by 209.1% in the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after buying an additional 28,964 shares during the period. RWC Asset Management LLP acquired a new position in Telecom Argentina in the fourth quarter valued at approximately $2,657,000. RWC Asset Advisors US LLC acquired a new position in Telecom Argentina in the fourth quarter valued at approximately $2,212,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Telecom Argentina by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock valued at $3,274,000 after buying an additional 140,362 shares during the period.

Telecom Argentina Company Profile

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.