Telecom Argentina (NYSE:TEO) Rating Increased to Hold at StockNews.com

Posted by on May 3rd, 2023

Telecom Argentina (NYSE:TEO – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Telecom Argentina Stock Down 1.4 %

Shares of NYSE TEO opened at $5.02 on Wednesday. The company has a 50 day simple moving average of $5.06 and a 200 day simple moving average of $5.00. The firm has a market cap of $2.16 billion, a PE ratio of -1.46 and a beta of 0.44. Telecom Argentina has a 1 year low of $3.72 and a 1 year high of $6.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.39 and a quick ratio of 0.37.

Telecom Argentina (NYSE:TEO – Get Rating) last issued its quarterly earnings data on Monday, March 20th. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $860.69 million. Telecom Argentina had a negative net margin of 29.35% and a positive return on equity of 0.35%. On average, research analysts forecast that Telecom Argentina will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TEO. Barclays PLC bought a new position in Telecom Argentina during the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC bought a new position in Telecom Argentina during the 3rd quarter worth approximately $37,000. Bank of America Corp DE raised its holdings in Telecom Argentina by 627.6% during the 4th quarter. Bank of America Corp DE now owns 10,085 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 8,699 shares during the last quarter. Jump Financial LLC bought a new position in Telecom Argentina during the 3rd quarter worth approximately $61,000. Finally, Virtu Financial LLC bought a new position in Telecom Argentina during the 2nd quarter worth approximately $62,000. Institutional investors own 1.77% of the company’s stock.

About Telecom Argentina

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Telecom Argentina SA engages in the provision of telecommunications services. The company offers fixed-line telecommunications, mobile telecommunications, other telephone-related services such as international long-distance and wholesale services, data transmission, information technology solutions outsourcing, and internet services.

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