Telecom Argentina (NYSE:TEO – Free Report) had its target price boosted by Scotiabank from $6.10 to $6.20 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a sector underperform rating on the utilities provider’s stock.
Several other equities research analysts have also commented on the stock. StockNews.com raised shares of Telecom Argentina from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group increased their target price on shares of Telecom Argentina from $7.30 to $8.30 and gave the stock a “sell” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of Telecom Argentina from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $13.00 in a research note on Tuesday, February 25th.
View Our Latest Stock Analysis on TEO
Telecom Argentina Price Performance
Telecom Argentina (NYSE:TEO – Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.47) by $0.64. Telecom Argentina had a negative net margin of 1.91% and a negative return on equity of 1.26%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.19 billion. As a group, equities research analysts forecast that Telecom Argentina will post 1.28 earnings per share for the current year.
Institutional Investors Weigh In On Telecom Argentina
Several hedge funds have recently modified their holdings of TEO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Telecom Argentina by 111.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,327,035 shares of the utilities provider’s stock valued at $29,297,000 after buying an additional 1,224,369 shares in the last quarter. Bosun Asset Management LLC purchased a new position in Telecom Argentina in the 4th quarter valued at about $1,031,000. Bank of America Corp DE lifted its stake in Telecom Argentina by 87.0% in the 4th quarter. Bank of America Corp DE now owns 20,684 shares of the utilities provider’s stock valued at $260,000 after buying an additional 9,621 shares in the last quarter. Freedom Investment Management Inc. purchased a new position in Telecom Argentina in the 4th quarter valued at about $577,000. Finally, NewEdge Advisors LLC purchased a new position in Telecom Argentina in the 4th quarter valued at about $202,000.
Telecom Argentina Company Profile
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.
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