Telecom Argentina (NYSE:TEO) Shares Up 4.5% – What’s Next?

Shares of Telecom Argentina S.A. (NYSE:TEO) rose 4.5% during trading on Tuesday . The stock traded as high as $10.90 and last traded at $10.96. Approximately 44,782 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 213,008 shares. The stock had previously closed at $10.49.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEO. JPMorgan Chase & Co. upgraded Telecom Argentina from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $13.00 in a research report on Tuesday, February 25th. Scotiabank boosted their target price on shares of Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a research note on Thursday, March 13th.

Telecom Argentina Stock Performance

The company has a market cap of $4.57 billion, a price-to-earnings ratio of -59.00 and a beta of 0.99. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $11.56 and its 200 day moving average price is $11.10.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.64. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. On average, analysts expect that Telecom Argentina S.A. will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Telecom Argentina

Several institutional investors and hedge funds have recently modified their holdings of TEO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Telecom Argentina by 111.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock valued at $29,297,000 after purchasing an additional 1,224,369 shares during the period. Bosun Asset Management LLC purchased a new position in Telecom Argentina in the 4th quarter valued at about $1,031,000. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina during the fourth quarter valued at about $853,000. Freedom Investment Management Inc. purchased a new stake in shares of Telecom Argentina during the fourth quarter worth about $577,000. Finally, Mariner LLC lifted its stake in shares of Telecom Argentina by 8.1% in the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 2,467 shares in the last quarter.

About Telecom Argentina

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.