Zacks Research Downgrades Telecom Argentina Stet – France Telecom (NYSE:TEO) to Hold

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on TEO. Scotiabank boosted their price target on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, June 9th. Wall Street Zen upgraded Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Morgan Stanley upgraded Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Finally, Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.55.

Telecom Argentina Stet – France Telecom Trading Up 0.9%

Shares of TEO opened at $13.00 on Monday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 25.49 and a beta of 1.32. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $12.86 and a two-hundred day simple moving average of $12.07. Telecom Argentina Stet – France Telecom has a twelve month low of $6.43 and a twelve month high of $16.34.

Insider Activity

In other news, Director Alejandro Alberto Urricelqui bought 38,890 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the purchase, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. This trade represents a 10.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Institutional investors have recently added to or reduced their stakes in the company. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $1,015,000. SPX Gestao de Recursos Ltda bought a new position in shares of Telecom Argentina Stet – France Telecom in the 1st quarter worth about $8,565,000. Y Intercept Hong Kong Ltd lifted its position in Telecom Argentina Stet – France Telecom by 8.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 21,330 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 1,628 shares during the period. Pictet Asset Management Holding SA purchased a new position in Telecom Argentina Stet – France Telecom during the 1st quarter valued at about $561,000. Finally, Verde Servicos Internacionais S.A. bought a new stake in Telecom Argentina Stet – France Telecom during the first quarter worth about $701,000.

Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.