Telecom Argentina (NYSE:TEO) raised to hold Zacks Investment Research


Argentina Telecom (NYSE:TEO – Get a rating) has been upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixed telecommunications links in the northern region of the Argentine Republic. The company contributes to the economic and social development of the country by incorporating the latest technological advances made to – date in the field of telecommunications in the world.”

Shares of TEO opened at $5.48 on Thursday. Telecom Argentina has a 52-week low of $4.39 and a 52-week high of $6.55. The company has a debt ratio of 0.37, a quick ratio of 0.34 and a current ratio of 0.36. The company has a market capitalization of $2.36 billion, a PE ratio of -49.82 and a beta of 0.43. The stock has a fifty-day simple moving average of $5.13 and a two-hundred-day simple moving average of $5.16.

Large investors have recently changed their positions in the stock. Morgan Stanley increased its stake in Telecom Argentina shares by 40.3% during the first quarter. Morgan Stanley now owns 11,657 shares of the utility provider valued at $65,000 after acquiring 3,346 additional shares last quarter. MQS Management LLC purchased a new stake in Telecom Argentina stock during the fourth quarter at a value of $68,000. Credit Suisse AG acquired a new position in Telecom Argentina during the fourth quarter worth $99,000. Deutsche Bank AG increased its position in Telecom Argentina by 63.6% during the fourth quarter. Deutsche Bank AG now owns 19,648 shares of the utility provider valued at $100,000 after buying an additional 7,638 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stock position in Telecom Argentina in the fourth quarter worth approximately $107,000. 2.22% of the shares are held by hedge funds and other institutional investors.

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Telecom Argentina Company Profile (Get a rating)

Telecom Argentina SA engages in the provision of telecommunications services. The Company offers fixed telecommunications, mobile telecommunications, other telephony-related services such as international and wholesale long distance services, data transmission, outsourcing of IT solutions and Internet services.

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