Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Gap Down After Analyst Downgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) shares gapped down before the market opened on Friday after Scotiabank downgraded the stock from a sector perform rating to a sector underperform rating. The stock had previously closed at $11.62, but opened at $11.07. Scotiabank now has a $8.60 price target on the stock. Telecom Argentina Stet – France Telecom shares last traded at $11.24, with a volume of 84,858 shares traded.

A number of other equities analysts have also issued reports on TEO. Zacks Research upgraded shares of Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Telecom Argentina Stet – France Telecom has an average rating of “Reduce” and an average target price of $11.70.

Institutional Trading of Telecom Argentina Stet – France Telecom

A number of hedge funds have recently added to or reduced their stakes in TEO. Hsbc Holdings PLC purchased a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter valued at approximately $171,000. XTX Topco Ltd purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter worth approximately $189,000. Millennium Management LLC lifted its holdings in shares of Telecom Argentina Stet – France Telecom by 160.8% during the fourth quarter. Millennium Management LLC now owns 125,593 shares of the utilities provider’s stock worth $1,458,000 after purchasing an additional 77,437 shares during the period. EFG International AG acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter worth $58,000. Finally, State of Wisconsin Investment Board purchased a new position in Telecom Argentina Stet – France Telecom in the 4th quarter valued at $302,000.

Telecom Argentina Stet – France Telecom Trading Down 4.4%

The stock has a market capitalization of $4.79 billion, a PE ratio of -33.68 and a beta of 1.26. The business’s 50-day moving average is $11.76 and its two-hundred day moving average is $10.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.46 and a current ratio of 0.48.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its quarterly earnings data on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share for the quarter. Telecom Argentina Stet – France Telecom had a negative return on equity of 2.53% and a negative net margin of 2.17%.The company had revenue of $1.35 billion during the quarter. As a group, equities research analysts anticipate that Telecom Argentina Stet – France Telecom S.A. will post 1.28 earnings per share for the current year.

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.