Scotiabank Forecasts Strong Price Appreciation for Telecom Argentina Stet – France Telecom (NYSE:TEO) Stock

Telecom Argentina Stet – France Telecom (NYSE:TEO) had its price target lifted by analysts at Scotiabank from $8.60 to $9.20 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “sector underperform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential downside of 31.36% from the stock’s previous close.

Several other research analysts have also commented on the company. Weiss Ratings raised Telecom Argentina Stet – France Telecom from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. JPMorgan Chase & Co. upgraded shares of Telecom Argentina Stet – France Telecom from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $12.00 to $16.00 in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.07.

Telecom Argentina Stet – France Telecom Stock Performance

NYSE TEO traded up $0.66 during trading hours on Wednesday, hitting $13.40. The company had a trading volume of 70,801 shares, compared to its average volume of 300,061. The business has a 50 day moving average of $11.73 and a 200-day moving average of $11.82. The company has a market cap of $5.77 billion, a PE ratio of 26.26 and a beta of 1.26. Telecom Argentina Stet – France Telecom has a 1-year low of $6.43 and a 1-year high of $13.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last posted its earnings results on Tuesday, February 10th. The utilities provider reported $0.02 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 business had revenue of $1.35 billion for the quarter. As a group, equities research analysts expect that Telecom Argentina Stet – France Telecom will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Telecom Argentina Stet – France Telecom

Several large investors have recently modified their holdings of TEO. Monaco Asset Management SAM acquired a new stake in shares of Telecom Argentina Stet – France Telecom during the third quarter worth $872,000. UBS Group AG increased its stake 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 buying an additional 60,033 shares during the period. Two Sigma Investments LP raised its position in Telecom Argentina Stet – France Telecom by 317.8% during the 3rd quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock worth $1,484,000 after buying an additional 155,299 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Telecom Argentina Stet – France Telecom during the 1st quarter worth $379,000. Finally, Bank of America Corp DE lifted its stake in shares of Telecom Argentina Stet – France Telecom by 21.3% in the 2nd quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 4,714 shares during the period.

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.