Telecom Argentina (TEO) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Telecom Argentina (NYSE:TEO) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

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. “

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Several other research firms have also recently weighed in on TEO. Citigroup assumed coverage on Telecom Argentina in a research report on Monday, January 8th. They issued a buy rating and a $46.00 price objective for the company. HSBC cut Telecom Argentina from a hold rating to a reduce rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley cut Telecom Argentina from an equal weight rating to an underweight rating in a research report on Tuesday, April 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Telecom Argentina presently has an average rating of Hold and a consensus target price of $36.75.

Shares of Telecom Argentina stock opened at $30.96 on Thursday. The company has a market cap of $6,001.04, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.83 and a quick ratio of 0.75. Telecom Argentina has a 12-month low of $21.92 and a 12-month high of $40.19.

The firm also recently disclosed a special dividend, which was paid on Wednesday, March 28th. Stockholders of record on Tuesday, March 20th were given a $0.7874 dividend. This represents a dividend yield of 4.36%. This is a boost from Telecom Argentina’s previous special dividend of $0.37. The ex-dividend date of this dividend was Monday, March 19th. Telecom Argentina’s dividend payout ratio is currently 246.76%.

Several institutional investors and hedge funds have recently bought and sold shares of TEO. State Street Corp boosted its position in shares of Telecom Argentina by 55.4% in the second quarter. State Street Corp now owns 25,021 shares of the utilities provider’s stock valued at $634,000 after acquiring an additional 8,919 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Telecom Argentina by 475.1% in the third quarter. JPMorgan Chase & Co. now owns 228,135 shares of the utilities provider’s stock valued at $6,963,000 after acquiring an additional 188,465 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Telecom Argentina in the third quarter valued at approximately $409,000. Caxton Associates LP bought a new stake in shares of Telecom Argentina in the third quarter valued at approximately $1,625,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Telecom Argentina in the third quarter valued at approximately $763,000. 8.17% of the stock is owned by institutional investors.

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Telecom Argentina Company Profile

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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