Telecom Argentina (NYSE:TEO) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a report published on Wednesday.

Telecom Argentina Price Performance

NYSE TEO opened at $7.62 on Wednesday. The company has a 50 day simple moving average of $7.54 and a 200-day simple moving average of $7.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. Telecom Argentina has a 52-week low of $4.50 and a 52-week high of $8.87.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.24) by $0.08. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $936.76 million. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. Research analysts anticipate that Telecom Argentina will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEO. JGP Global Gestao de Recursos Ltda. bought a new position in Telecom Argentina during the third quarter valued at approximately $180,000. Jump Financial LLC raised its position in Telecom Argentina by 209.1% during the fourth quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 28,964 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Telecom Argentina by 13.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,536 shares of the utilities provider’s stock valued at $1,521,000 after acquiring an additional 38,149 shares in the last quarter. RWC Asset Advisors US LLC bought a new position in Telecom Argentina during the fourth quarter valued at approximately $2,212,000. Finally, RWC Asset Management LLP bought a new position in Telecom Argentina during the fourth quarter valued at approximately $2,657,000.

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.