Telecom Argentina (NYSE:TEO) Hits New 1-Year High – Still a Buy?

Telecom Argentina S.A. (NYSE:TEO) shares reached a new 52-week high during trading on Monday . The company traded as high as $15.05 and last traded at $14.66, with a volume of 67619 shares trading hands. The stock had previously closed at $14.18.

Wall Street Analysts Forecast Growth

TEO has been the subject of a number of research reports. The Goldman Sachs Group increased their price objective on Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a report on Wednesday, November 20th. Scotiabank lowered shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and increased their price target for the stock from $5.70 to $6.10 in a research note on Friday, September 20th. Finally, StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Telecom Argentina Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $9.11. The firm has a market cap of $6.25 billion, a PE ratio of -80.55 and a beta of 0.93.

Hedge Funds Weigh In On Telecom Argentina

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

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.