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

StockNews.com lowered shares of Telecom Argentina (NYSE:TEO) from a hold rating to a sell rating in a research note published on Wednesday morning.

Telecom Argentina Stock Performance

NYSE:TEO opened at $7.99 on Wednesday. Telecom Argentina has a 12 month low of $4.50 and a 12 month high of $8.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.42. The company’s 50 day moving average is $7.54 and its 200-day moving average is $7.12.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Monday, March 11th. The utilities provider reported ($2.16) EPS for the quarter, beating analysts’ consensus estimates of ($2.24) by $0.08. Telecom Argentina had a negative net margin of 13.68% and a negative return on equity of 10.49%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $936.76 million. On average, equities research analysts predict that Telecom Argentina will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Telecom Argentina

A number of institutional investors have recently modified their holdings of TEO. Oaktree Capital Management LP grew its stake in shares of Telecom Argentina by 20.2% in the third quarter. Oaktree Capital Management LP now owns 2,444,156 shares of the utilities provider’s stock worth $11,708,000 after acquiring an additional 410,415 shares during the last quarter. RWC Asset Management LLP acquired a new stake in shares of Telecom Argentina in the fourth quarter worth $2,657,000. RWC Asset Advisors US LLC acquired a new stake in shares of Telecom Argentina in the fourth quarter worth $2,212,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Telecom Argentina by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 457,898 shares of the utilities provider’s stock worth $3,274,000 after acquiring an additional 140,362 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Telecom Argentina in the third quarter worth $180,000.

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.