Telecom Argentina (NYSE:TEO – Get Free Report) had its price objective upped by equities researchers at Scotiabank from $6.10 to $6.20 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s price objective points to a potential downside of 44.19% from the stock’s previous close.
A number of other equities research analysts also recently commented on TEO. The Goldman Sachs Group lifted their target price on Telecom Argentina from $7.30 to $8.30 and gave the company a “sell” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded Telecom Argentina from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $13.00 in a report on Tuesday, February 25th. Finally, StockNews.com upgraded Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.
Telecom Argentina Price Performance
Telecom Argentina (NYSE:TEO – Get Free Report) last posted its earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.64. Telecom Argentina had a negative return on equity of 1.26% and a negative net margin of 1.91%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.19 billion. Equities analysts expect that Telecom Argentina will post 1.28 EPS for the current year.
Institutional Investors Weigh In On Telecom Argentina
Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Telecom Argentina by 113.3% in 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 increased its holdings in Telecom Argentina by 8.1% during the 4th 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 period. Advisors Preferred LLC purchased a new stake in Telecom Argentina during the 4th quarter worth about $75,000. XTX Topco Ltd increased its holdings in Telecom Argentina by 64.7% during the 4th quarter. XTX Topco Ltd now owns 17,510 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 6,878 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new stake in Telecom Argentina during the 4th quarter worth about $106,000.
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.
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