Telecom Argentina (NYSE:TEO) Cut to “Sector Underperform” at Scotiabank

Scotiabank lowered shares of Telecom Argentina (NYSE:TEO) from a sector perform rating to a sector underperform rating in a research report released on Friday morning, Marketbeat Ratings reports. The firm currently has $6.10 target price on the utilities provider’s stock, up from their previous target price of $5.70.

Separately, StockNews.com upgraded Telecom Argentina from a sell rating to a hold rating in a research note on Wednesday, June 5th.

Telecom Argentina Stock Performance

TEO stock opened at $8.53 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.46 and a debt-to-equity ratio of 0.37. Telecom Argentina has a fifty-two week low of $4.50 and a fifty-two week high of $9.97. The stock has a fifty day moving average of $7.07 and a 200-day moving average of $7.53.

Telecom Argentina (NYSE:TEO) last posted its quarterly earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share for the quarter. The company had revenue of $967.38 million during the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. As a group, sell-side analysts forecast that Telecom Argentina will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in Telecom Argentina in the 2nd quarter worth about $334,000. B. Riley Wealth Advisors Inc. bought a new position in Telecom Argentina in the 2nd quarter worth about $174,000. PFG Investments LLC bought a new position in Telecom Argentina in the 2nd quarter worth about $104,000. Oaktree Capital Management LP boosted its stake in Telecom Argentina by 0.4% in the 4th quarter. Oaktree Capital Management LP now owns 2,454,156 shares of the utilities provider’s stock worth $17,547,000 after purchasing an additional 10,000 shares during the period. Finally, Jump Financial LLC boosted its stake in Telecom Argentina by 209.1% in the 4th quarter. Jump Financial LLC now owns 42,816 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 28,964 shares during the period.

Telecom Argentina Company Profile

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.