Telecom Argentina (NYSE:TEO) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a report released on Tuesday morning.

Other analysts have also issued reports about the company. The Goldman Sachs Group began coverage on Telecom Argentina in a research note on Wednesday, October 23rd. They set a “sell” rating on the stock. Scotiabank cut Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and upped their price target for the company from $5.70 to $6.10 in a research report on Friday, September 20th.

Telecom Argentina Trading Down 2.7 %

TEO opened at $10.83 on Tuesday. The firm has a 50-day moving average price of $8.52 and a 200-day moving average price of $7.82. Telecom Argentina has a twelve month low of $4.88 and a twelve month high of $12.06. The company has a current ratio of 0.40, a quick ratio of 0.46 and a debt-to-equity ratio of 0.31.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings data on Thursday, August 15th. The utilities provider reported $0.15 earnings per share for the quarter. The business had revenue of $967.38 million during the quarter. Telecom Argentina had a negative net margin of 1.90% and a negative return on equity of 1.18%. As a group, analysts predict that Telecom Argentina will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Telecom Argentina

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PFG Investments LLC bought a new position in Telecom Argentina in the 2nd quarter worth about $104,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Telecom Argentina during the second quarter worth about $174,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Telecom Argentina during the second quarter worth about $334,000.

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.