Telecom Argentina (NYSE:TEO) Stock Price Up 4.8% – Here’s Why

Telecom Argentina S.A. (NYSE:TEO) shares shot up 4.8% on Monday . The stock traded as high as $11.50 and last traded at $11.48. 26,625 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 214,844 shares. The stock had previously closed at $10.95.

Wall Street Analyst Weigh In

TEO has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Telecom Argentina from $8.30 to $9.50 and gave the stock a “sell” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $13.00 in a report on Tuesday, February 25th. Finally, Scotiabank reissued an “underperform” rating on shares of Telecom Argentina in a research report on Thursday.

Telecom Argentina Stock Performance

The stock has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $11.68. The stock has a market cap of $4.93 billion, a P/E ratio of -63.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.40.

Telecom Argentina (NYSE:TEO) last announced its earnings results on Monday, May 12th. The utilities provider reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.44. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.08 billion. On average, equities analysts expect that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Telecom Argentina

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Telecom Argentina by 111.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock worth $29,297,000 after acquiring an additional 1,224,369 shares during the last quarter. Bosun Asset Management LLC acquired a new position in Telecom Argentina during the fourth quarter valued at approximately $1,031,000. JGP Global Gestao de Recursos Ltda. acquired a new position in Telecom Argentina during the fourth quarter valued at approximately $853,000. Freedom Investment Management Inc. bought a new stake in shares of Telecom Argentina during the fourth quarter worth $577,000. Finally, GAMMA Investing LLC grew its stake in shares of Telecom Argentina by 900.3% during the first quarter. GAMMA Investing LLC now owns 39,181 shares of the utilities provider’s stock worth $3,845,000 after buying an additional 35,264 shares during the last quarter.

Telecom Argentina Company Profile

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.