Telecom Argentina (NYSE:TEO) Trading Up 4.5% – Should You Buy?

Telecom Argentina S.A. (NYSE:TEO)’s stock price traded up 4.5% during mid-day trading on Tuesday . The stock traded as high as $10.90 and last traded at $10.96. 44,782 shares were traded during mid-day trading, a decline of 79% from the average session volume of 213,008 shares. The stock had previously closed at $10.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TEO shares. JPMorgan Chase & Co. upgraded Telecom Argentina from a “neutral” rating to an “overweight” rating and raised their price target for the company from $10.00 to $13.00 in a research report on Tuesday, February 25th. Scotiabank raised their price objective on Telecom Argentina from $6.10 to $6.20 and gave the company a “sector underperform” rating in a report on Thursday, March 13th.

Telecom Argentina Price Performance

The firm’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $11.08. The firm has a market capitalization of $4.60 billion, a P/E ratio of -59.36 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.40 and a quick ratio of 0.37.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.64. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.19 billion. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. As a group, analysts predict that Telecom Argentina S.A. will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Telecom Argentina by 113.3% during the 4th quarter. GAMMA Investing LLC now owns 3,917 shares of the utilities provider’s stock valued at $49,000 after buying an additional 2,081 shares during the period. Mariner LLC grew its stake in shares of Telecom Argentina by 8.1% in the fourth quarter. Mariner LLC now owns 32,792 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 2,467 shares during the last quarter. Advisors Preferred LLC purchased a new position in Telecom Argentina during the 4th quarter valued at about $75,000. XTX Topco Ltd raised its position in Telecom Argentina by 64.7% during the 4th quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 6,878 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in Telecom Argentina in the 4th quarter worth approximately $106,000.

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.