The Goldman Sachs Group initiated coverage on shares of Telecom Argentina (NYSE:TEO – Free Report) in a report published on Wednesday, Marketbeat Ratings reports. The firm issued a sell rating on the utilities provider’s stock.
Separately, Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and raised their target price for the company from $5.70 to $6.10 in a research note on Friday, September 20th.
Check Out Our Latest Report on Telecom Argentina
Telecom Argentina Stock Performance
Telecom Argentina (NYSE:TEO – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $967.38 million during the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. On average, equities research analysts anticipate that Telecom Argentina will post 1.71 EPS for the current year.
Institutional Trading of Telecom Argentina
A number of hedge funds and other institutional investors have recently modified their holdings of TEO. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina during the second quarter worth about $334,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Telecom Argentina during the 2nd quarter valued at about $174,000. Finally, PFG Investments LLC acquired a new position in shares of Telecom Argentina in the 2nd quarter worth approximately $104,000.
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.
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