Telecom Argentina (NYSE:TEO) Hits New 12-Month Low at $10.08

Telecom Argentina SA (NYSE:TEO) reached a new 52-week low on Monday . The stock traded as low as $10.08 and last traded at $10.31, with a volume of 225129 shares changing hands. The stock had previously closed at $11.17.

Several research firms have weighed in on TEO. Bank of America downgraded Telecom Argentina from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $17.00 to $15.00 in a research report on Thursday, August 8th. ValuEngine downgraded Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Zacks Investment Research downgraded Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Finally, Scotiabank raised Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 target price for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Telecom Argentina presently has a consensus rating of “Sell” and an average target price of $12.50.

The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 30.29 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.67 and a current ratio of 0.70. The firm has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $15.54.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in shares of Telecom Argentina by 6.8% in the 4th quarter. Northern Trust Corp now owns 100,402 shares of the utilities provider’s stock worth $1,562,000 after purchasing an additional 6,417 shares during the period. Legal & General Group Plc lifted its position in Telecom Argentina by 213.9% during the 4th quarter. Legal & General Group Plc now owns 81,358 shares of the utilities provider’s stock valued at $1,266,000 after acquiring an additional 55,438 shares during the period. Deutsche Bank AG lifted its position in Telecom Argentina by 28.3% during the 4th quarter. Deutsche Bank AG now owns 99,269 shares of the utilities provider’s stock valued at $1,544,000 after acquiring an additional 21,900 shares during the period. Avalon Advisors LLC lifted its position in Telecom Argentina by 15.0% during the 1st quarter. Avalon Advisors LLC now owns 48,023 shares of the utilities provider’s stock valued at $701,000 after acquiring an additional 6,260 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in Telecom Argentina by 11.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 41,609 shares of the utilities provider’s stock valued at $607,000 after acquiring an additional 4,403 shares during the period. 3.60% of the stock is owned by institutional investors.

About Telecom Argentina (NYSE:TEO)

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.

Read More: Google Finance Portfolio Workaround

Receive News & Ratings for Telecom Argentina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telecom Argentina and related companies with MarketBeat.com's FREE daily email newsletter.