Telecom Argentina (NYSE:TEO) Cut to Sell at StockNews.com

Telecom Argentina (NYSE:TEO) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

A number of other brokerages have also commented on TEO. Scotiabank lowered Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their target price for the company from $5.70 to $6.10 in a research note on Friday, September 20th. The Goldman Sachs Group began coverage on shares of Telecom Argentina in a research note on Wednesday, October 23rd. They issued a “sell” rating for the company.

Telecom Argentina Stock Performance

Telecom Argentina stock traded down $0.30 during mid-day trading on Tuesday, reaching $10.83. The company had a trading volume of 162,836 shares, compared to its average volume of 189,727. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 120.33 and a beta of 0.82. The company has a 50 day moving average of $8.44 and a 200-day moving average of $7.80. Telecom Argentina has a 52 week low of $4.88 and a 52 week high of $12.06.

Telecom Argentina (NYSE:TEO) last released its earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share for the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. The business had revenue of $967.38 million for the quarter. On average, sell-side analysts expect that Telecom Argentina will post 1.71 EPS for the current fiscal year.

Institutional Trading of Telecom Argentina

Several institutional investors have recently bought and sold shares of TEO. Cubist Systematic Strategies LLC bought a new stake in shares of Telecom Argentina in the 2nd quarter worth about $334,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Telecom Argentina during the second quarter worth $174,000. Finally, PFG Investments LLC acquired a new stake in shares of Telecom Argentina in the second quarter valued at $104,000.

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.