Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Gap Down Following Analyst Downgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s share price gapped down prior to trading on Friday after Scotiabank downgraded the stock from a sector perform rating to a sector underperform rating. The stock had previously closed at $11.62, but opened at $11.07. Scotiabank now has a $8.60 price target on the stock. Telecom Argentina Stet – France Telecom shares last traded at $11.24, with a volume of 84,858 shares trading hands.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a report on Monday, December 29th. Zacks Research upgraded Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Telecom Argentina Stet – France Telecom has an average rating of “Reduce” and a consensus target price of $11.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RWC Asset Management LLP increased its stake in shares of Telecom Argentina Stet – France Telecom by 0.4% in the third quarter. RWC Asset Management LLP now owns 669,828 shares of the utilities provider’s stock valued at $4,870,000 after buying an additional 2,383 shares during the period. Bank of America Corp DE boosted its holdings in Telecom Argentina Stet – France Telecom by 21.3% in the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock valued at $237,000 after acquiring an additional 4,714 shares during the last quarter. EFG International AG bought a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter valued at approximately $58,000. Van ECK Associates Corp acquired a new stake in Telecom Argentina Stet – France Telecom during the 3rd quarter valued at approximately $43,000. Finally, Engineers Gate Manager LP bought a new position in Telecom Argentina Stet – France Telecom during the 2nd quarter worth approximately $110,000.

Telecom Argentina Stet – France Telecom Stock Down 3.1%

The stock’s 50-day moving average price is $11.76 and its 200-day moving average price is $10.73. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -34.12 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its quarterly earnings data on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. The company had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a negative net margin of 2.17% and a negative return on equity of 2.53%. On average, sell-side analysts expect that Telecom Argentina Stet – France Telecom S.A. will post 1.28 earnings per share for the current year.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.