Telecom Argentina SA (NYSE:TEO) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,259,800 shares, a drop of 21.9% from the July 31st total of 1,612,900 shares. Based on an average trading volume of 524,300 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.0% of the shares of the company are sold short.
Several analysts recently commented on the company. Zacks Investment Research cut Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. ValuEngine cut Telecom Argentina from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Scotiabank upgraded Telecom Argentina from an “underperform” rating to a “sector perform” rating and set a $10.00 target price on the stock in a research report on Monday, August 12th. Finally, Bank of America cut Telecom Argentina from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $17.00 to $15.00 in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $12.50.
Hedge funds have recently modified their holdings of the company. KBC Group NV acquired a new position in shares of Telecom Argentina during the 2nd quarter valued at $54,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Telecom Argentina during the 2nd quarter valued at $94,000. Marshall Wace North America L.P. increased its position in shares of Telecom Argentina by 2,108.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 11,044 shares of the utilities provider’s stock valued at $195,000 after purchasing an additional 10,544 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Telecom Argentina during the 2nd quarter valued at $212,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Telecom Argentina during the 2nd quarter valued at $236,000. Institutional investors own 3.70% of the company’s stock.
TEO traded down $0.26 during trading hours on Friday, hitting $9.53. The company’s stock had a trading volume of 283,600 shares, compared to its average volume of 387,079. Telecom Argentina has a fifty-two week low of $8.63 and a fifty-two week high of $19.88. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.21 billion, a PE ratio of 28.03 and a beta of 0.87. The company has a 50-day simple moving average of $12.53 and a 200 day simple moving average of $14.82.
Telecom Argentina (NYSE:TEO) last posted its earnings results on Friday, August 9th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Telecom Argentina had a net margin of 6.83% and a return on equity of 5.85%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.01 billion. Research analysts expect that Telecom Argentina will post 0.28 earnings per share for the current fiscal year.
Telecom Argentina Company Profile
Telecom Argentina SA, together with its subsidiaries, provides telecommunications services in Argentina and internationally. The company offers telephone services, including local, domestic, and international long-distance telephone services, as well as public telephone services; interconnection services, such as access, termination, and long-distance transport of calls; information and communication technology services comprising datacenter services, and telecommunications consulting and value-added solutions; and call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing, and maintenance services, as well as sells equipment.
Further Reading: Outstanding Shares and The Effect on Share Price
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