Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock Price Down 6.1% – Here’s Why

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s stock price traded down 6.1% during trading on Thursday . The company traded as low as $13.63 and last traded at $13.6820. Approximately 188,968 shares traded hands during trading, a decline of 49% from the average daily volume of 369,733 shares. The stock had previously closed at $14.57.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TEO shares. JPMorgan Chase & Co. increased their target price on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 9th. Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Scotiabank increased their price objective on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.07.

Telecom Argentina Stet – France Telecom Stock Up 1.2%

The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $12.69 and a two-hundred day simple moving average of $12.05. The company has a market capitalization of $6.00 billion, a P/E ratio of 27.30 and a beta of 1.32.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last issued its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Telecom Argentina Stet – France Telecom had a return on equity of 4.05% and a net margin of 3.33%.The company had revenue of $1.35 billion during the quarter. As a group, equities analysts predict that Telecom Argentina Stet – France Telecom S.A. will post 1.65 EPS for the current year.

Insider Activity

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Large investors have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda purchased a new stake in shares of Telecom Argentina Stet – France Telecom during the 1st quarter valued at $8,565,000. Sagil Capital LLP acquired a new position in Telecom Argentina Stet – France Telecom during the 4th quarter valued at about $7,629,000. Banco BTG Pactual S.A. purchased a new stake in Telecom Argentina Stet – France Telecom in the third quarter valued at about $2,725,000. RWC Asset Management LLP raised its stake in Telecom Argentina Stet – France Telecom by 50.7% in the fourth quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after buying an additional 339,416 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter worth about $1,969,000.

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.