Telecom Argentina Stet – France Telecom (NYSE:TEO) Releases Quarterly Earnings Results

Telecom Argentina Stet – France Telecom (NYSE:TEO) released its quarterly earnings results on Monday. The utilities provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.28 by $0.80, FiscalAI reports. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.60 billion. Telecom Argentina Stet – France Telecom had a negative net margin of 2.17% and a negative return on equity of 2.53%.

Telecom Argentina Stet – France Telecom Stock Performance

NYSE TEO traded down $0.24 during trading hours on Monday, reaching $11.58. The stock had a trading volume of 322,560 shares, compared to its average volume of 279,679. The stock has a fifty day moving average of $11.60 and a 200 day moving average of $11.64. The stock has a market cap of $4.99 billion, a P/E ratio of -35.09 and a beta of 1.26. Telecom Argentina Stet – France Telecom has a 52-week low of $6.43 and a 52-week high of $13.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.46 and a current ratio of 0.48.

Analysts Set New Price Targets

Several equities analysts recently commented on TEO shares. Zacks Research raised shares of Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. raised shares of Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $12.00 to $16.00 in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Finally, Scotiabank lowered shares of Telecom Argentina Stet – France Telecom from a “sector perform” rating to a “sector underperform” rating and increased their price objective for the company from $8.20 to $8.60 in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.87.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Telecom Argentina Stet – France Telecom in the fourth quarter valued at $171,000. XTX Topco Ltd purchased a new position in Telecom Argentina Stet – France Telecom in the fourth quarter valued at $189,000. Millennium Management LLC increased its holdings in Telecom Argentina Stet – France Telecom by 160.8% in the fourth quarter. Millennium Management LLC now owns 125,593 shares of the utilities provider’s stock valued at $1,458,000 after buying an additional 77,437 shares in the last quarter. EFG International AG purchased a new position in Telecom Argentina Stet – France Telecom in the fourth quarter valued at $58,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the fourth quarter valued at approximately $302,000.

About Telecom Argentina Stet – France Telecom

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.