Telecom Argentina (NYSE:TEO) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Telecom Argentina (NYSE:TEO) 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.

Telecom Argentina Stock Performance

Shares of TEO stock opened at $8.65 on Wednesday. Telecom Argentina has a 12-month low of $4.88 and a 12-month high of $9.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.49 and a quick ratio of 0.46. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 216.25 and a beta of 0.85. The business has a 50 day simple moving average of $7.79 and a 200 day simple moving average of $7.60.

Telecom Argentina (NYSE:TEO) 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.