Telecom Argentina Stet – France Telecom (NYSE:TEO) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) saw unusually-strong trading volume on Thursday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 309,586 shares changed hands during trading, an increase of 9% from the previous session’s volume of 282,800 shares.The stock last traded at $12.1420 and had previously closed at $11.82.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $16.00 in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Finally, Scotiabank cut shares of Telecom Argentina Stet – France Telecom from a “sector perform” rating to a “sector underperform” rating and upped their price objective for the stock from $8.20 to $8.60 in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.87.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Large investors have recently bought and sold shares of the company. RWC Asset Management LLP grew its holdings in shares of Telecom Argentina Stet – France Telecom by 50.7% during the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock worth $11,717,000 after purchasing an additional 339,416 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Telecom Argentina Stet – France Telecom during the 1st quarter worth approximately $8,565,000. Sagil Capital LLP bought a new stake in Telecom Argentina Stet – France Telecom during the 4th quarter worth approximately $7,629,000. Banco BTG Pactual S.A. bought a new stake in Telecom Argentina Stet – France Telecom during the 3rd quarter worth approximately $2,725,000. Finally, UBS Group AG increased its position in Telecom Argentina Stet – France Telecom by 25.7% in the 4th quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock valued at $3,409,000 after acquiring an additional 60,033 shares during the period.

Telecom Argentina Stet – France Telecom Stock Performance

The company’s 50-day simple moving average is $11.66 and its 200-day simple moving average is $11.79. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 23.18 and a beta of 1.26. The company has a current ratio of 0.58, a quick ratio of 0.46 and a debt-to-equity ratio of 0.51.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. The company had revenue of $1.35 billion for the quarter. Telecom Argentina Stet – France Telecom had a net margin of 3.33% and a return on equity of 4.05%. On average, analysts expect that Telecom Argentina Stet – France Telecom S.A. will post 0.67 EPS for the current year.

About Telecom Argentina Stet – France Telecom

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.