Telecom Argentina (NYSE:TEO) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Telecom Argentina (NYSE:TEO) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

A number of other research firms also recently issued reports on TEO. The Goldman Sachs Group started coverage on Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the company from $5.70 to $6.10 in a report on Friday, September 20th.

Telecom Argentina Price Performance

Shares of TEO opened at $13.20 on Wednesday. The firm has a fifty day moving average price of $9.35 and a 200 day moving average price of $8.09. The stock has a market cap of $5.69 billion, a PE ratio of -73.33 and a beta of 0.82. Telecom Argentina has a 1-year low of $5.52 and a 1-year high of $14.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TEO. Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina in the 2nd quarter valued at $334,000. B. Riley Wealth Advisors Inc. acquired a new position in Telecom Argentina during the 2nd quarter worth approximately $174,000. Centiva Capital LP purchased a new position in shares of Telecom Argentina during the 3rd quarter worth approximately $123,000. PFG Investments LLC acquired a new stake in shares of Telecom Argentina in the 2nd quarter valued at approximately $104,000. Finally, Stifel Financial Corp purchased a new stake in shares of Telecom Argentina during the 3rd quarter worth $91,000.

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.