According to Zacks, “TELECOM ARGENTINA holds a license to provide basic telephone service and fixes telecommunications links in the northern region of the Argentine Republic. The Company contributes to the country´s economic and social development by means of incorporating the latest technological advances achieved to-date in the field of telecommunications world-wide. “
TEO has been the subject of several other reports. TheStreet upgraded Telecom Argentina SA from a hold rating to a buy rating in a report on Monday, July 11th. Morgan Stanley upgraded Telecom Argentina SA from an equal weight rating to an overweight rating and upped their price objective for the stock from $18.00 to $23.00 in a report on Tuesday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $20.28.
Shares of Telecom Argentina SA (NYSE:TEO) opened at 18.76 on Tuesday. The company has a 50 day moving average price of $18.31 and a 200 day moving average price of $18.44. Telecom Argentina SA has a 12-month low of $14.03 and a 12-month high of $20.28. The firm has a market cap of $3.64 billion, a PE ratio of 17.53 and a beta of 1.35.
A number of hedge funds have recently made changes to their positions in TEO. James Investment Research Inc. boosted its position in Telecom Argentina SA by 33.6% in the second quarter. James Investment Research Inc. now owns 15,900 shares of the company’s stock worth $291,000 after buying an additional 4,000 shares during the last quarter. Royal Bank of Canada boosted its position in Telecom Argentina SA by 1,581.4% in the first quarter. Royal Bank of Canada now owns 16,814 shares of the company’s stock worth $300,000 after buying an additional 15,814 shares during the last quarter. Cambiar Investors LLC purchased a new position in Telecom Argentina SA during the second quarter worth $372,000. John G Ullman & Associates Inc. purchased a new position in Telecom Argentina SA during the second quarter worth $374,000. Finally, Emerald Acquisition Ltd. purchased a new position in Telecom Argentina SA during the second quarter worth $547,000. 8.64% of the stock is owned by hedge funds and other institutional investors.
Telecom Argentina SA Company Profile
Telecom Argentina SA provides fixed-line telecommunications services and other telephone-related services, such as international long-distance service, data transmission, information technology (IT) solutions outsourcing and Internet services. The Company provides mobile telecommunications services and international wholesale services.
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