Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Up 12.9% – Here’s What Happened

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s stock price traded up 12.9% on Thursday . The company traded as high as $12.91 and last traded at $12.70. 439,405 shares changed hands during trading, an increase of 99% from the average session volume of 221,023 shares. The stock had previously closed at $11.25.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEO. UBS Group set a $17.00 target price on Telecom Argentina Stet – France Telecom and gave the company a “buy” rating in a research report on Monday, November 3rd. Zacks Research cut Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Telecom Argentina Stet – France Telecom has a consensus rating of “Reduce” and an average target price of $11.93.

Telecom Argentina Stet – France Telecom Stock Performance

The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of -36.20 and a beta of 1.22. The firm has a 50 day moving average price of $11.78 and a 200-day moving average price of $9.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.52 and a quick ratio of 0.50.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last released its earnings results on Monday, November 10th. The utilities provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.13. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Telecom Argentina Stet – France Telecom had a negative return on equity of 2.64% and a negative net margin of 2.55%. As a group, sell-side analysts expect that Telecom Argentina Stet – France Telecom S.A. will post 1.28 earnings per share for the current fiscal year.

Telecom Argentina Stet – France Telecom Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, December 3rd. Investors of record on Monday, November 24th were paid a dividend of $0.0452 per share. The ex-dividend date was Monday, November 24th. Telecom Argentina Stet – France Telecom’s dividend payout ratio is presently -14.29%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp purchased a new stake in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter valued at approximately $43,000. Engineers Gate Manager LP acquired a new position in shares of Telecom Argentina Stet – France Telecom during the second quarter worth $110,000. Qube Research & Technologies Ltd purchased a new position in Telecom Argentina Stet – France Telecom in the third quarter valued at $98,000. Bank of America Corp DE raised its stake in Telecom Argentina Stet – France Telecom by 21.3% in the second quarter. Bank of America Corp DE now owns 26,872 shares of the utilities provider’s stock valued at $237,000 after buying an additional 4,714 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Telecom Argentina Stet – France Telecom during the 1st quarter worth about $379,000.

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.