Telecom Argentina Stet – France Telecom (NYSE:TEO) Shares Gap Down on Analyst Downgrade

Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO)’s share price gapped down before the market opened on Friday after Scotiabank downgraded the stock from a sector perform rating to a sector underperform rating. The stock had previously closed at $11.62, but opened at $11.07. Scotiabank now has a $8.60 price target on the stock. Telecom Argentina Stet – France Telecom shares last traded at $11.24, with a volume of 84,858 shares trading hands.

Other equities analysts have also issued reports about the company. Zacks Research raised Telecom Argentina Stet – France Telecom from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Telecom Argentina Stet – France Telecom in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Telecom Argentina Stet – France Telecom has an average rating of “Reduce” and a consensus price target of $11.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEO. EFG International AG acquired a new stake in Telecom Argentina Stet – France Telecom in the fourth quarter valued at approximately $58,000. Van ECK Associates Corp bought a new stake in shares of Telecom Argentina Stet – France Telecom during the third 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 approximately $110,000. Qube Research & Technologies Ltd bought a new position in shares of Telecom Argentina Stet – France Telecom in the 3rd quarter worth $98,000. Finally, Hsbc Holdings PLC bought a new position in shares of Telecom Argentina Stet – France Telecom in the 4th quarter worth $171,000.

Telecom Argentina Stet – France Telecom Trading Down 3.1%

The firm’s 50-day moving average is $11.76 and its 200-day moving average is $10.73. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 0.55. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -34.12 and a beta of 1.26.

Telecom Argentina Stet – France Telecom (NYSE:TEO) last announced its quarterly earnings results on Tuesday, February 10th. The utilities provider reported $0.02 EPS for the quarter. The business had revenue of $1.35 billion during the quarter. Telecom Argentina Stet – France Telecom had a negative net margin of 2.17% and a negative return on equity of 2.53%. As a group, sell-side analysts anticipate that Telecom Argentina Stet – France Telecom S.A. will post 1.28 EPS for the current fiscal year.

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.