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

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) was down 6.1% on Thursday . The stock traded as low as $13.63 and last traded at $13.6820. Approximately 188,968 shares were traded 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 have recently commented on the company. JPMorgan Chase & Co. raised their target price on Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, June 9th. Zacks Research raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Scotiabank increased their price target on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a report on Wednesday, May 27th. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.07.

Telecom Argentina Stet – France Telecom Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58. The business has a 50 day simple moving average of $12.59 and a 200-day simple moving average of $12.02. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 27.54 and a beta of 1.32.

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

Insider Transactions at Telecom Argentina Stet – France Telecom

In other news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were purchased 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. The trade was a 10.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

A number of hedge funds and other institutional investors have recently modified their holdings of TEO. RWC Asset Management LLP increased its stake in shares of Telecom Argentina Stet – France Telecom by 50.7% during the 4th 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 bought a new position in Telecom Argentina Stet – France Telecom during the first quarter valued at $8,565,000. Sagil Capital LLP purchased a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter worth $7,629,000. Banco BTG Pactual S.A. bought a new stake in shares of Telecom Argentina Stet – France Telecom in the third quarter valued at $2,725,000. Finally, UBS Group AG lifted its position in shares of 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 last quarter.

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.