Zacks Research Downgrades Telecom Argentina Stet – France Telecom (NYSE:TEO) to Hold

Telecom Argentina Stet – France Telecom (NYSE:TEO) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also commented on TEO. JPMorgan Chase & Co. boosted their price objective on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, June 9th. Scotiabank upped their price target on shares of Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the company a “sector underperform” rating in a report on Wednesday, May 27th. Morgan Stanley raised shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. Wall Street Zen raised Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a report 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. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Telecom Argentina Stet – France Telecom has a consensus rating of “Hold” and a consensus target price of $15.55.

Telecom Argentina Stet – France Telecom Stock Performance

Shares of NYSE:TEO opened at $13.00 on Monday. The company has a market cap of $5.60 billion, a P/E ratio of 25.49 and a beta of 1.32. Telecom Argentina Stet – France Telecom has a one year low of $6.43 and a one year high of $16.34. The business’s 50-day simple moving average is $12.86 and its 200 day simple moving average is $12.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.56 and a current ratio of 0.58.

Insider Activity

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

Hedge Funds Weigh In On Telecom Argentina Stet – France Telecom

Institutional investors have recently modified their holdings of the company. Sagil Capital LLP bought a new stake in shares of Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $7,629,000. RWC Asset Management LLP grew its position in Telecom Argentina Stet – France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after buying an additional 339,416 shares in the last quarter. Verde Servicos Internacionais S.A. acquired a new stake in shares of Telecom Argentina Stet – France Telecom in the 1st quarter worth approximately $701,000. CenterBook Partners LP acquired a new position in shares of Telecom Argentina Stet – France Telecom during the fourth quarter valued at approximately $1,097,000. Finally, UBS Group AG lifted its position in Telecom Argentina Stet – France Telecom by 25.7% in the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock worth $3,409,000 after purchasing 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.