Telecom Argentina Stet – France Telecom (NYSE:TEO) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Telecom Argentina Stet – France Telecom (NYSE:TEO) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other brokerages also recently issued reports on TEO. Morgan Stanley raised Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price objective on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Zacks Research lowered Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Scotiabank raised their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Telecom Argentina Stet – France Telecom has a consensus rating of “Hold” and an average target price of $15.43.

Telecom Argentina Stet – France Telecom Stock Performance

Shares of NYSE TEO opened at $13.32 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $12.53. Telecom Argentina Stet – France Telecom has a 52-week low of $6.43 and a 52-week high of $16.34. The stock has a market capitalization of $5.74 billion, a P/E ratio of 10.83 and a beta of 1.36.

Insider Activity

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average cost of $13.43 per share, with a total value of $522,292.70. Following the acquisition, the director directly owned 399,348 shares of the company’s stock, valued at $5,363,243.64. This represents a 10.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. RWC Asset Management LLP increased 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 valued at $11,717,000 after purchasing an additional 339,416 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Telecom Argentina Stet – France Telecom in the 1st quarter valued at about $8,565,000. Sagil Capital LLP bought a new position in Telecom Argentina Stet – France Telecom in the 4th quarter valued at about $7,629,000. Banco BTG Pactual S.A. acquired a new position in Telecom Argentina Stet – France Telecom during the 3rd quarter valued at about $2,725,000. Finally, UBS Group AG increased its stake in Telecom Argentina Stet – France Telecom by 25.7% during 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.

Telecom Argentina Stet – France Telecom Company Profile

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.