Telecom Argentina (NYSE:TEO) Downgraded to “D” at TheStreet

Telecom Argentina (NYSE:TEO – Get Rating) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

Separately, StockNews.com downgraded Telecom Argentina from a “buy” rating to a “hold” rating in a research report on Friday, November 18th.

Telecom Argentina Price Performance

Shares of TEO opened at $4.61 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.35. The stock has a 50 day simple moving average of $4.17 and a 200 day simple moving average of $4.44. Telecom Argentina has a 52-week low of $3.72 and a 52-week high of $6.59. The firm has a market capitalization of $1.99 billion, a PE ratio of -1.75 and a beta of 0.51.

Telecom Argentina (NYSE:TEO – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The utilities provider reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.46). Telecom Argentina had a negative net margin of 23.76% and a positive return on equity of 1.41%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.33 billion. Sell-side analysts predict that Telecom Argentina will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

A number of large investors have recently bought and sold shares of TEO. Eaton Vance Management acquired a new position in Telecom Argentina during the 1st quarter worth approximately $3,507,000. Millennium Management LLC raised its stake in shares of Telecom Argentina by 225.6% during the 2nd quarter. Millennium Management LLC now owns 351,550 shares of the utilities provider’s stock worth $1,600,000 after purchasing an additional 243,570 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Telecom Argentina during the 1st quarter worth approximately $520,000. Renaissance Technologies LLC raised its stake in shares of Telecom Argentina by 18.7% during the 1st quarter. Renaissance Technologies LLC now owns 247,143 shares of the utilities provider’s stock worth $1,485,000 after purchasing an additional 38,943 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Telecom Argentina by 42.1% during the 2nd quarter. Citadel Advisors LLC now owns 76,126 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 22,567 shares in the last quarter. Institutional investors and hedge funds own 2.05% of the company’s stock.

Telecom Argentina Company Profile

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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; and other related supplementary services, such as call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services.