Telecom Argentina SA (TEO) Downgraded by Zacks Investment Research
Telecom Argentina SA (NYSE:TEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
TEO has been the subject of several other reports. TheStreet upgraded shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Morgan Stanley raised shares of Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $23.00 in a research note on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Telecom Argentina SA presently has a consensus rating of “Buy” and a consensus target price of $20.28.
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Telecom Argentina SA (NYSE:TEO) remained flat at $18.74 during trading on Tuesday. 264,930 shares of the company were exchanged. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 17.60 and a beta of 1.35. Telecom Argentina SA has a 52-week low of $14.03 and a 52-week high of $20.28. The company has a 50-day moving average of $18.36 and a 200 day moving average of $18.45.
Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Telecom Argentina SA by 12.4% in the first quarter. JPMorgan Chase & Co. now owns 72,340 shares of the company’s stock valued at $1,294,000 after buying an additional 8,009 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Telecom Argentina SA by 3.4% in the first quarter. Goldman Sachs Group Inc. now owns 199,883 shares of the company’s stock valued at $3,576,000 after buying an additional 6,500 shares during the period. Royal Bank of Canada increased its stake in shares of Telecom Argentina SA by 1,581.4% in the first quarter. Royal Bank of Canada now owns 16,814 shares of the company’s stock valued at $300,000 after buying an additional 15,814 shares during the period. TT International increased its stake in shares of Telecom Argentina SA by 52.1% in the second quarter. TT International now owns 289,160 shares of the company’s stock valued at $5,300,000 after buying an additional 99,085 shares during the period. Finally, James Investment Research Inc. increased its stake in shares of Telecom Argentina SA by 33.6% in the second quarter. James Investment Research Inc. now owns 15,900 shares of the company’s stock valued at $291,000 after buying an additional 4,000 shares during the period. 8.64% of the stock is owned by institutional investors.
About Telecom Argentina SA
Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.
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