Telecom Argentina Stet – France Telecom (NYSE:TEO) Trading 8.5% Higher Following Analyst Upgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s stock price rose 8.5% during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from $8.60 to $9.20. Scotiabank currently has a sector underperform rating on the stock. Telecom Argentina Stet – France Telecom traded as high as $13.76 and last traded at $13.8170. Approximately 438,070 shares traded hands during trading, an increase of 45% from the average daily volume of 301,467 shares. The stock had previously closed at $12.74.

A number of other equities research analysts have also weighed in on TEO. JPMorgan Chase & Co. raised Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $12.00 to $16.00 in a research report on Wednesday, April 29th. Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Zacks Research upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.07.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

A number of hedge funds and other institutional investors have recently bought and sold shares of TEO. Van ECK Associates Corp acquired a new stake in Telecom Argentina Stet – France Telecom in the third quarter worth about $43,000. EFG International AG acquired a new stake in Telecom Argentina Stet – France Telecom in the 4th quarter worth approximately $58,000. Qube Research & Technologies Ltd purchased a new stake in Telecom Argentina Stet – France Telecom during the 3rd quarter worth approximately $98,000. Engineers Gate Manager LP acquired a new position in Telecom Argentina Stet – France Telecom during the 2nd quarter valued at approximately $110,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Telecom Argentina Stet – France Telecom in the fourth quarter worth $171,000.

Telecom Argentina Stet – France Telecom Trading Up 7.1%

The stock’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $11.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market cap of $5.88 billion, a PE ratio of 26.79 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last announced its quarterly earnings data on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. The business had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. On average, sell-side analysts forecast that Telecom Argentina Stet – France Telecom S.A. will post 0.85 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.