A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alpine Global Management LLC purchased a new position in Telecom Argentina in the 3rd quarter worth about $192,000. Jane Street Group LLC purchased a new position in Telecom Argentina during the 3rd quarter worth approximately $270,000. Legal & General Group Plc purchased a new position in Telecom Argentina during the 3rd quarter worth approximately $452,000. Wells Fargo & Company MN raised its stake in Telecom Argentina by 52.8% during the 3rd quarter. Wells Fargo & Company MN now owns 36,813 shares of the utilities provider’s stock valued at $641,000 after purchasing an additional 12,717 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in Telecom Argentina during the 3rd quarter valued at $707,000. Hedge funds and other institutional investors own 6.60% of the company’s stock.
TEO traded down $0.06 on Tuesday, reaching $14.33. 156,663 shares of the company traded hands, compared to its average volume of 246,798. Telecom Argentina SA has a 52-week low of $13.31 and a 52-week high of $31.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.58 and a current ratio of 0.63. The company has a market capitalization of $2.74 billion, a PE ratio of 42.15, a PEG ratio of 2.97 and a beta of 0.84.
Telecom Argentina (NYSE:TEO) last issued its quarterly earnings data on Friday, March 8th. The utilities provider reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.96. Telecom Argentina had a return on equity of 0.33% and a net margin of 0.33%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.08 billion. On average, equities analysts forecast that Telecom Argentina SA will post 0.86 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on TEO. Zacks Investment Research raised Telecom Argentina from a “sell” rating to a “hold” rating in a research report on Saturday. ValuEngine lowered Telecom Argentina from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Santander raised Telecom Argentina from an “underperform” rating to a “hold” rating in a research note on Friday, December 21st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold”.
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About Telecom Argentina
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.
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