Telecom Argentina (NYSE:TEO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “

Other equities analysts have also issued research reports about the stock. Scotiabank upgraded shares of 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. ValuEngine upgraded shares of Telecom Argentina from a buy rating to a strong-buy rating in a research report on Wednesday, October 30th. Finally, Bank of America lowered shares of Telecom Argentina from a neutral rating to an underperform rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has an average rating of Sell and a consensus target price of $12.50.

Shares of NYSE TEO traded down $0.23 during midday trading on Tuesday, reaching $9.04. The stock had a trading volume of 326,341 shares, compared to its average volume of 356,371. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.65 and a current ratio of 0.70. The stock has a 50-day moving average of $9.88 and a 200-day moving average of $13.41. Telecom Argentina has a 12-month low of $8.63 and a 12-month high of $18.55. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 26.59 and a beta of 0.89.

Telecom Argentina (NYSE:TEO) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.09). Telecom Argentina had a return on equity of 5.85% and a net margin of 6.83%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, analysts forecast that Telecom Argentina will post -0.12 EPS for the current fiscal year.

The business also recently announced a Variable dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 21st were given a dividend of $0.648 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a dividend yield of 11.8%. Telecom Argentina’s dividend payout ratio is 364.71%.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Telecom Argentina by 715.4% during the second quarter. BlackRock Inc. now owns 3,761,730 shares of the utilities provider’s stock worth $66,470,000 after acquiring an additional 3,300,388 shares during the last quarter. Oaktree Capital Management LP boosted its position in shares of Telecom Argentina by 14.8% during the second quarter. Oaktree Capital Management LP now owns 1,198,000 shares of the utilities provider’s stock worth $21,169,000 after acquiring an additional 154,000 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Telecom Argentina during the second quarter worth $7,578,000. Northern Trust Corp boosted its position in shares of Telecom Argentina by 316.6% during the second quarter. Northern Trust Corp now owns 416,939 shares of the utilities provider’s stock worth $7,367,000 after acquiring an additional 316,850 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Telecom Argentina during the second quarter worth $4,817,000. Hedge funds and other institutional investors own 3.72% of the company’s stock.

Telecom Argentina Company Profile

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.

Featured Story: Municipal Bonds

Get a free copy of the Zacks research report on Telecom Argentina (TEO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.