Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Rating Lowered by Wall Street Zen

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also recently issued reports on TEO. Scotiabank increased 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 report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their target price on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 9th. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Zacks Research cut Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Morgan Stanley upgraded Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Three equities research 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.com, the company has an average rating of “Hold” and an average price target of $15.43.

Telecom Argentina Stet – France Telecom Stock Performance

NYSE:TEO opened at $13.34 on Friday. Telecom Argentina Stet – France Telecom has a 1-year low of $6.43 and a 1-year high of $16.34. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.58 and a quick ratio of 0.55. The firm’s fifty day moving average price is $13.62 and its 200 day moving average price is $12.53.

Insiders Place Their Bets

In related news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost 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 of the company’s stock, valued at $5,363,243.64. This represents a 10.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

Several institutional investors have recently modified their holdings of TEO. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Telecom Argentina Stet – France Telecom in the 1st quarter worth approximately $1,015,000. SPX Gestao de Recursos Ltda acquired a new position in Telecom Argentina Stet – France Telecom during the first quarter worth $8,565,000. Y Intercept Hong Kong Ltd boosted its position in Telecom Argentina Stet – France Telecom by 8.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 1,628 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in Telecom Argentina Stet – France Telecom during the first quarter worth $561,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in Telecom Argentina Stet – France Telecom in the first quarter valued at $701,000.

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.