Telecom Argentina Stet – France Telecom (NYSE:TEO) Downgraded to Buy Rating by Wall Street Zen

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

TEO has been the subject of several other research reports. Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Scotiabank boosted their price objective on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upped their target price 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. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley upgraded Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $17.00 in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.55.

Telecom Argentina Stet – France Telecom Stock Up 0.3%

Shares of Telecom Argentina Stet – France Telecom stock opened at $13.66 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.56. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 26.78 and a beta of 1.35. The firm’s 50-day moving average is $13.39 and its two-hundred day moving average is $12.29. Telecom Argentina Stet – France Telecom has a 1 year low of $6.43 and a 1 year high of $16.34.

Insider Activity

In related news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $13.43 per share, for a total transaction of $522,292.70. Following the completion of the acquisition, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. The trade was a 10.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Telecom Argentina Stet – France Telecom during the 1st quarter valued at about $379,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Telecom Argentina Stet – France Telecom by 321.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 104,726 shares of the utilities provider’s stock worth $925,000 after purchasing an additional 79,893 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter worth about $346,000. Jump Financial LLC acquired a new stake in Telecom Argentina Stet – France Telecom during the 2nd quarter valued at approximately $596,000. Finally, Jane Street Group LLC purchased a new position in shares of Telecom Argentina Stet – France Telecom during the second quarter worth $578,000.

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.