Telecom Argentina Stet – France Telecom (NYSE:TEO) Rating Lowered to Hold at Zacks Research

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, June 9th. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Scotiabank upped their target price on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.55.

Telecom Argentina Stet – France Telecom Trading Up 0.9%

Shares of Telecom Argentina Stet – France Telecom stock opened at $13.00 on Monday. Telecom Argentina Stet – France Telecom has a 1 year low of $6.43 and a 1 year high of $16.34. 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 business has a 50 day moving average price of $12.86 and a 200 day moving average price of $12.07. The company has a market capitalization of $5.60 billion, a P/E ratio of 25.49 and a beta of 1.32.

Insiders Place Their Bets

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui purchased 38,890 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the purchase, the director owned 399,348 shares in the company, valued at approximately $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. EFG International AG purchased a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter valued at approximately $58,000. Van ECK Associates Corp purchased a new position in Telecom Argentina Stet – France Telecom during the third quarter worth approximately $43,000. Engineers Gate Manager LP acquired a new position in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter valued at $110,000. Qube Research & Technologies Ltd acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the 3rd quarter worth $98,000. Finally, Hsbc Holdings PLC acquired a new position in Telecom Argentina Stet – France Telecom in the fourth quarter valued at $171,000.

About Telecom Argentina Stet – France Telecom

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.