Telecom Argentina (NYSE:TEO) Shares Gap Up – Should You Buy?

Telecom Argentina S.A. (NYSE:TEO) gapped up before the market opened on Thursday . The stock had previously closed at $10.18, but opened at $11.24. Telecom Argentina shares last traded at $11.24, with a volume of 42,604 shares.

Analyst Ratings Changes

A number of research firms have commented on TEO. Scotiabank downgraded shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and boosted their price target for the stock from $5.70 to $6.10 in a research report on Friday, September 20th. The Goldman Sachs Group assumed coverage on shares of Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock.

Telecom Argentina Price Performance

The stock has a market capitalization of $5.09 billion, a P/E ratio of 124.89 and a beta of 0.82. The company’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $7.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.49 and a quick ratio of 0.46.

Telecom Argentina (NYSE:TEO) last announced its quarterly earnings data on Thursday, August 15th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter. Telecom Argentina had a net margin of 1.01% and a return on equity of 0.69%. The firm had revenue of $967.38 million for the quarter. As a group, equities analysts expect that Telecom Argentina S.A. will post 1.71 EPS for the current fiscal year.

Institutional Trading of Telecom Argentina

Several hedge funds and other institutional investors have recently modified their holdings of TEO. Cubist Systematic Strategies LLC acquired a new position in Telecom Argentina in the second quarter valued at about $334,000. B. Riley Wealth Advisors Inc. bought a new stake in Telecom Argentina during the 2nd quarter worth approximately $174,000. Finally, PFG Investments LLC acquired a new position in Telecom Argentina during the 2nd quarter worth about $104,000.

About Telecom Argentina

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.