Telecom Argentina (NYSE:TEO)’s share price traded up 2.4% on Wednesday . The stock traded as high as $23.67 and last traded at $22.89. 13,066 shares were traded during trading, a decline of 94% from the average session volume of 228,825 shares. The stock had previously closed at $23.45.
Several equities analysts have weighed in on the stock. HSBC cut shares of Telecom Argentina from a “hold” rating to a “reduce” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Telecom Argentina from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Saturday, February 3rd. Finally, Morgan Stanley cut shares of Telecom Argentina from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, April 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $36.75.
The company has a market cap of $4.57 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 0.49.
Several large investors have recently modified their holdings of TEO. Castleark Management LLC acquired a new stake in shares of Telecom Argentina during the 4th quarter valued at $143,000. Envestnet Asset Management Inc. boosted its stake in shares of Telecom Argentina by 72.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,105 shares of the utilities provider’s stock valued at $150,000 after buying an additional 1,729 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Telecom Argentina during the 1st quarter valued at $174,000. Victory Capital Management Inc. acquired a new stake in shares of Telecom Argentina during the 4th quarter valued at $182,000. Finally, Advisor Group Inc. boosted its stake in shares of Telecom Argentina by 41.1% during the 4th quarter. Advisor Group Inc. now owns 5,684 shares of the utilities provider’s stock valued at $208,000 after buying an additional 1,656 shares during the period. 7.97% of the stock is owned by institutional investors.
Telecom Argentina Company Profile
Telecom Argentina SA provides local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services in Argentina. It also offers cellular services in Paraguay and pay TV services in Uruguay. The company was formerly known as Cablevisión SA and changed its name to Telecom Argentina SA in January 2018.
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