Newfoundland Capital Management acquired a new position in shares of Telecom Argentina SA (NYSE: TEO) during the second quarter, according to the most recent Form 13F application to the Securities and Exchange Commission (SEC). The institutional investor bought 363,590 shares of the service provider's shares, valued at approximately $ 6,450,000. Telecom Argentina accounts for approximately 1.5% of the investment portfolio of Newfoundland Capital Management, as a result of which the share is in 8th place. Newfoundland Capital Management owned 0.19% of Telecom Argentina from the most recent SEC application.
Several other major investors have also changed their participations in the company. BlackRock Inc. increased shareholdings of Telecom Argentina by 45.3% in the first quarter. BlackRock Inc. now owns 1,168,176 shares in the shares of the utilities service provider to the value of $ 36,600,000 after the purchase of another 363,970 shares during the period. Schroder Investment Management Group increased its shareholdings of Telecom Argentina by 11.9% during the first quarter. Schroder Investment Management Group now owns 867,054 shares of the service provider's shares in utilities worth $ 27,165,000 after the purchase of 92,264 additional shares during the period. Columbus Hill Capital Management L.P. increased its equity interests in Telecom Argentina in the first quarter by 1.9%. Columbus Hill Capital Management L.P. now owns 519,815 shares of the shareholding of utility companies worth $ 16,286,000 after the purchase of additional 9,577 shares during the period. Global X Management Co. LLC increased its participations in Telecom Argentina shares by 19.5% in the first quarter. Global X Management Co. LLC now owns 299.794 shares of the utilities vendor worth $ 9,393,000 after the purchase of 48,894 additional shares during the period. Finally, First Trust Advisors LP increased its equity interests in Telecom Argentina by 290.4% during the second quarter. First Trust Advisors LP now owns 273,598 shares in the shares of the utility provider of $ 4,874,000 after the purchase of 203,511 additional shares during the period. 8.50% of the shares are currently held by institutional investors.
TEO shares opened on Friday at $ 18.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.44 and a current ratio of 0.47. Telecom Argentina SA has a low point in the two weeks of $ 16.72 and a height of fifty-two weeks of $ 40.19. The stock has a market capitalization of $ 3.49 billion, a P / E ratio of 7.64, a PEG ratio of 1.56 and a beta of 1.11.
Telecom Argentina (NYSE: TEO) last released its quarterly results on Monday 21 May. The utilities supplier reported $ 0.41 of earnings per share for the quarter on top of Zacks' consensus estimate of $ 0.39 with $ 0.02. Telecom Argentina had a net margin of 11.27% and a return on equity of 18.67%. The company had sales of $ 1.56 billion for the quarter. Research analysts predict that Telecom Argentina SA will book 1.42 earnings per share for the current fiscal year.
A number of analysts have recently weighed the stock. Zacks Investment Research reduced shares of Telecom Argentina from a & # 39; hold & # 39; credit to & # 39; sell & # 39; rating in a report on Wednesday, June 6. ValuEngine reduced shares of Telecom Argentina from a & # 39; hold & # 39; credit to a & # 39; sell & # 39; rating in a report on Tuesday 26 June. HSBC increased Telecom Argentina's stock from a "reduce" rating to a "hold" rating in a report on Thursday, June 28. Finally, TheStreet beat Telecom Argentina shares from a "b" rating to a "c" rating in a report on Monday, July 16. One research analyst has rated the shares with a sell rating, three have given a hold rating and one has a buy-rating assigned to the shares. The company currently has an average rating of & # 39; Hold & # 39; and a target price target of $ 44.50.
About Telecom Argentina
Telecom Argentina SA, together with its subsidiaries, provides telecommunication services in Argentina and internationally. The company operates in three segments: Fixed Services, Personal Mobile Services and Núcleo Mobile Services. It offers telephone services, including local, domestic and international long-distance telephony services, as well as public telephone services; interconnection services, such as access, termination and long distance transport of calls; and data transmission and internet services comprising broadband, internet-specific lines, private networks, national and international video streaming, transport of radio and TV signals and videoconferencing services.
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