Is Telecom Argentina S.A. ADR (NYSE: TEO) Stock Set To Rise More?

In the last trading session, 1.05 million Telecom Argentina S.A. ADR (NYSE:TEO) shares changed hands as the company’s beta touched 0.62. With the company’s per share price at $6.53 changed hands at $1.19 or 22.28% during last session, the market valuation stood at $820.23M. TEO’s last price was a discount, traded about -5.36% off its 52-week high of $6.88. The share price had its 52-week low at $3.69, which suggests the last value was 43.49% up since then. When we look at Telecom Argentina S.A. ADR’s average trading volume, we note the 10-day average is 38760.0 shares, with the 3-month average coming to 81.67K.

Analysts gave the Telecom Argentina S.A. ADR (TEO) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 4.33. If we narrow down to specifics, the data shows that 2 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended TEO as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Telecom Argentina S.A. ADR’s EPS for the current quarter is expected to be $0.29.

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Telecom Argentina S.A. ADR (NYSE:TEO) trade information

Instantly TEO was in green as seen at the end of in last trading. With action 24.86%, the performance over the past five days has been green. The jump to weekly highs of 6.70 on Monday, 11/20/23 added 22.28% to the stock’s daily price. The company’s shares are showing year-to-date upside of 25.92%, with the 5-day performance at 24.86% in the green. However, in the 30-day time frame, Telecom Argentina S.A. ADR (NYSE:TEO) is 15.99% up. Looking at the short shares, we see there were 0.96 million shares sold at short interest cover period of 11.05 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.10, meaning bulls need a downside of -28.04% from its current market value. According to analyst projections, TEO’s forecast low is $4.50 with $5.70 as the target high. To hit the forecast high, the stock’s price needs a 12.71% surge from its current level, while the stock would need to tank 31.09% for it to hit the projected low.

Telecom Argentina S.A. ADR (TEO) estimates and forecasts

Data shows that the Telecom Argentina S.A. ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 37.76% over the past 6 months, a 136.11% in annual growth rate that is considerably higher than the industry average of -24.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Telecom Argentina S.A. ADR will rise 147.50%. Year-over-year growth is forecast to reach -30.00% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $625.38 million. The company’s revenue for the corresponding quarters a year ago was $1.59 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -60.70%.

The 2023 estimates are for Telecom Argentina S.A. ADR earnings to increase by 48.31%.

TEO Dividends

Telecom Argentina S.A. ADR is expected to release its next quarterly earnings report in December. The 8.97% annual yield figure for the share gives it an annual dividend of 0.59. It is important to note, however, that the 8.97% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Telecom Argentina S.A. ADR (NYSE:TEO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.02% of Telecom Argentina S.A. ADR shares while 1.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 1.93%. There are 1.93% institutions holding the Telecom Argentina S.A. ADR stock share, with Redwood Capital Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 2.85% of the shares, roughly 3.59 million TEO shares worth $21.83 million.

Oaktree Capital Management Lp holds the second largest percentage of outstanding shares, with 1.62% or 2.03 million shares worth $12.39 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Global X Fds-Global X MSCI Argentina ETF and Modern Capital Tactical Opportunities Fund. With 0.32 million shares estimated at $1.52 million under it, the former controlled 0.25% of total outstanding shares. On the other hand, Modern Capital Tactical Opportunities Fund held about 0.03% of the shares, roughly 37263.0 shares worth around $0.23 million.

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