Telecom Argentina Stet – France Telecom (NYSE:TEO) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of Telecom Argentina Stet – France Telecom (NYSE:TEO) from a neutral rating to an overweight rating in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has $16.00 price objective on the utilities provider’s stock, up from their previous price objective of $12.00.

A number of other analysts have also weighed in on TEO. Scotiabank lowered shares of Telecom Argentina Stet – France Telecom from a “sector perform” rating to a “sector underperform” rating and upped their target price for the stock from $8.20 to $8.60 in a report on Friday, March 27th. Zacks Research raised shares of Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.87.

Telecom Argentina Stet – France Telecom Stock Performance

Telecom Argentina Stet – France Telecom stock opened at $12.16 on Wednesday. The firm’s 50 day simple moving average is $11.54 and its 200 day simple moving average is $11.49. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.24 billion, a PE ratio of -36.85 and a beta of 1.27. Telecom Argentina Stet – France Telecom has a 1-year low of $6.43 and a 1-year high of $13.81.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. The business had revenue of $1.35 billion for the quarter. Telecom Argentina Stet – France Telecom had a negative net margin of 2.17% and a negative return on equity of 2.53%. As a group, analysts expect that Telecom Argentina Stet – France Telecom will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Institutional investors have recently made changes to their positions in the stock. EFG International AG bought a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth $58,000. Van ECK Associates Corp bought a new position in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter worth $43,000. Engineers Gate Manager LP purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 2nd quarter valued at $110,000. Qube Research & Technologies Ltd purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter valued at $98,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 4th quarter valued at $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.