Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Down 5.6% – Time to Sell?

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s share price traded down 5.6% during trading on Tuesday . The stock traded as low as $13.65 and last traded at $13.5050. Approximately 58,659 shares were traded during mid-day trading, a decline of 84% from the average session volume of 368,323 shares. The stock had previously closed at $14.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, June 9th. Scotiabank upped their price target on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.55.

Telecom Argentina Stet – France Telecom Price Performance

The firm has a fifty day moving average price of $13.62 and a two-hundred day moving average price of $12.50. The stock has a market capitalization of $5.72 billion, a P/E ratio of 10.80 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58.

Insider Buying and Selling

In other news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of Telecom Argentina Stet – France Telecom stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the transaction, the director owned 399,348 shares in the company, valued at $5,363,243.64. The trade was a 10.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the 3rd quarter valued at about $43,000. EFG International AG purchased a new position in shares of Telecom Argentina Stet – France Telecom in the fourth quarter worth approximately $58,000. Qube Research & Technologies Ltd purchased a new position in shares of Telecom Argentina Stet – France Telecom in the third quarter worth approximately $98,000. Engineers Gate Manager LP bought a new stake in Telecom Argentina Stet – France Telecom during the second quarter valued at approximately $110,000. Finally, Hsbc Holdings PLC bought a new stake in Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $171,000.

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.