Telecom Argentina SA (TEO) Raises Dividend to $0.79 Per Share

Telecom Argentina SA (NYSE:TEO) announced a special dividend on Monday, March 12th, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be paid a dividend of 0.7874 per share by the utilities provider on Wednesday, March 28th. This represents a yield of 4.36%. The ex-dividend date of this dividend is Monday, March 19th. This is an increase from Telecom Argentina’s previous special dividend of $0.37.

Telecom Argentina has a dividend payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Telecom Argentina to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 43.3%.

Telecom Argentina (NYSE:TEO) traded down $0.55 during mid-day trading on Monday, hitting $34.58. 206,318 shares of the stock were exchanged, compared to its average volume of 216,732. Telecom Argentina has a 52 week low of $21.20 and a 52 week high of $40.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 0.83. The firm has a market cap of $6,809.32, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.04 and a beta of 1.19.

An institutional investor recently raised its position in Telecom Argentina stock. State Street Corp increased its stake in shares of Telecom Argentina SA (NYSE:TEO) by 55.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,021 shares of the utilities provider’s stock after purchasing an additional 8,919 shares during the period. State Street Corp’s holdings in Telecom Argentina were worth $634,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.17% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Telecom Argentina in a research report on Monday, January 8th. They set a “buy” rating and a $46.00 price target for the company. Zacks Investment Research upgraded shares of Telecom Argentina from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Saturday, February 3rd. Finally, HSBC downgraded shares of Telecom Argentina from a “hold” rating to a “reduce” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.75.

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Telecom Argentina Company Profile

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

Dividend History for Telecom Argentina (NYSE:TEO)

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