Todays Report: The Telecom Argentina SA (TEO) Rating Lowered to Hold at The Zacks Investment Research

The Telecom Argentina SA (TEO) Rating Lowered to Hold at The Zacks Investment Research

Telecom Argentina SA (NYSE:TEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley upgraded shares of Telecom Argentina SA from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $23.00 in a report on Tuesday, September 6th. TheStreet upgraded shares of Telecom Argentina SA from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Telecom Argentina SA currently has a consensus rating of “Buy” and a consensus price target of $20.45.

Shares of Telecom Argentina SA (NYSE:TEO) opened at 18.67 on Thursday. The company has a market cap of $3.62 billion, a PE ratio of 17.37 and a beta of 1.35. The firm’s 50-day moving average is $18.50 and its 200-day moving average is $18.51. Telecom Argentina SA has a one year low of $14.03 and a one year high of $20.09.

A number of large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its stake in shares of Telecom Argentina SA by 25.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 15,700 shares of the company’s stock valued at $287,000 after buying an additional 3,200 shares in the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Telecom Argentina SA by 310.3% in the third quarter. John G Ullman & Associates Inc. now owns 83,700 shares of the company’s stock valued at $1,532,000 after buying an additional 63,300 shares in the last quarter. Oaktree Capital Management LP boosted its stake in shares of Telecom Argentina SA by 7.4% in the second quarter. Oaktree Capital Management LP now owns 558,151 shares of the company’s stock valued at $10,231,000 after buying an additional 38,300 shares in the last quarter. Allianz Asset Management AG boosted its stake in shares of Telecom Argentina SA by 47.1% in the second quarter. Allianz Asset Management AG now owns 47,381 shares of the company’s stock valued at $868,000 after buying an additional 15,173 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Telecom Argentina SA by 2.6% in the second quarter. FMR LLC now owns 1,340,703 shares of the company’s stock valued at $24,575,000 after buying an additional 34,090 shares in the last quarter. Institutional investors own 8.63% of the company’s stock.

Telecom Argentina SA 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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