Telecom Argentina (NYSE:TEO) Coverage Initiated at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group began coverage on shares of Telecom Argentina (NYSE:TEO) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set a “sell” rating on the utilities provider’s stock.

Separately, Scotiabank cut shares of Telecom Argentina from a “sector perform” rating to a “sector underperform” rating and lifted their price objective for the stock from $5.70 to $6.10 in a research note on Friday, September 20th.

Telecom Argentina Stock Up 4.8 %

NYSE:TEO opened at $8.14 on Wednesday. Telecom Argentina has a 52 week low of $4.88 and a 52 week high of $9.97. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $7.76 and a 200-day moving average of $7.60.

Telecom Argentina (NYSE:TEO) last released its quarterly earnings results on Thursday, August 15th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter. Telecom Argentina had a return on equity of 0.69% and a net margin of 1.01%. The company had revenue of $967.38 million during the quarter. Sell-side analysts expect that Telecom Argentina will post 1.71 EPS for the current year.

Institutional Trading of Telecom Argentina

A number of hedge funds have recently bought and sold shares of the company. PFG Investments LLC purchased a new position in shares of Telecom Argentina in the second quarter worth approximately $104,000. B. Riley Wealth Advisors Inc. acquired a new position in Telecom Argentina in the 2nd quarter worth approximately $174,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Telecom Argentina during the 2nd quarter worth approximately $334,000.

Telecom Argentina Company Profile

Telecom Argentina SA, together with its subsidiaries, provides telecommunications services. The company offers mobile telecommunications services, including voice communications, high-speed mobile Internet content and applications download, online streaming, and other services; and sells mobile communication devices, such as handsets, Modems MiFi and wingles, and smart watches.