# Telecom Argentina S.A. (TEO)

> Source: Nexqual · https://nexqual.com/TEO · data as of 2026-10-23 16:14 UTC · cite as "Nexqual, Telecom Argentina S.A. (TEO), nexqual.com/TEO" · informational, not investment advice.

**Price:** USD 12.71 (+0.39% today) · US market open, as of October 23, 2026 at 16:14 UTC; quotes may be delayed. Prev close 12.66 · day 12.42–12.71 · 52w 7.61–16.34 · market cap null · NYQ

## Key facts
- 1 of 80 tracked superinvestors hold TEO (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $524K; 1 not under a Rule 10b5-1 plan ($524K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $541K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (6 analysts), mean target USD 17.08 (range 9.2–22).
- Total return with dividends: 1Y +66.1% vs S&P 500 +14.7%; 5Y +188.1% vs S&P 500 +77.5%.
- Next earnings: 2026-11-09, EPS estimate USD 0.31, revenue estimate $1.75B.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold TEO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 0.04% | $1.5M | Reduced -92.8% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-20 | Gonzalez Baruki Luis Alberto | Director | 188,500 | $524K | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $541K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-10-09 | Heine Martin Andres | See Remarks | 7,000 | $19K | 2.67 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Urricelqui Alejandro Alberto | Director | 38,890 | $522K | 13.43 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 6 analysts; mean target USD 17.08 (low 9.2, high 22).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-04 | JP Morgan | Target raised | Overweight | $19 → $21 |
| 2026-08-12 | UBS | Target lowered | Buy | $18 → $16.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +66.1% | +188.1% |
| S&P 500 (SPY) | +14.7% | +77.5% |
| Per year | +66.2% | +23.6% |
| Volatility (annualized) | 57.4% | 52.5% |
| Max drawdown | -27.1% (Jun 2026→Oct 2026) | -52.5% (Dec 2024→Sep 2025) |

## Peers (Telecom Services)
VZ (Verizon Communications Inc.) USD 44.55 -1.45% · TMUS (T-Mobile US, Inc.) USD 150.42 -5.27% · T (AT&T Inc.) USD 21.48 -5.56% · CMCSA (Comcast Corporation) USD 22.72 -0.55% · AMX (America Movil, S.A.B. de C.V.) USD 24.59 -1.56% · CHT (Chunghwa Telecom Co., Ltd.) USD 48.55 -0.35%

## More
Full page: https://nexqual.com/TEO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TEO's own 20-F filed 2026-03-11 (https://www.sec.gov/Archives/edgar/data/932470/000110465926026480/teo-20251231x20f.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Huawei | "For example, on May 16, 2019, the U.S. government placed Huawei Technologies Co. Ltd ("Huawei"), one of our strategic suppliers in our mobile and fixed telephone networks, and its affiliates on the Entity List, which eff…" |
| Supplier | IATEC | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Newsan | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | ZTE | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Radio Victoria TCL ARG | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | FTTMAS | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Solnik | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Electroson Telecomunicacion | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Plantel | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Supplier | Retesar | "Our current major suppliers of PP&E are IATEC S.A., Newsan S.A., Huawei Tech Investment Co. LTD Argentina, ZTE Corporation, Huawei International Co. Limited, Radio Victoria TCL ARG S.A., FTTMAS Limited, Solnik S.A., Elec…" |
| Customer | Argentina | "A substantial majority of our property, operations and customers are located in Argentina, and a portion of our assets and liabilities are denominated in foreign currencies." |
| Customer | Walt Disney (DIS) | "Customers can choose between Football Pack, HBO Max, Disney+ Premium, and Universal+, switching them every 30 days —all within a single plan." |
| Customer | Adesol | "As of December 31, 2025, Adesol had approximately 0.1 million customers in Uruguay, providing them with pay TV services under different technological platforms, DTH (Direct to Home), cable, MMDS (Multichannel Multipoint …" |
| Partner | Amazon (AMZN) | "This landscape is further shaped by the anticipated entry of additional global operators, such as Amazon's Project Kuiper and OneWeb, which have already obtained regulatory authorizations to operate in the country and ha…" |
| Partner | Alphabet (Google) (GOOGL) | "We continue to strengthen strategic partnerships with leading companies such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others." |
| Partner | IBM (IBM) | "We continue to strengthen strategic partnerships with leading companies such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others." |
| Partner | Microsoft (MSFT) | "We continue to strengthen strategic partnerships with leading companies such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others." |
| Partner | Oracle (ORCL) | "We continue to strengthen strategic partnerships with leading companies such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others." |
| Partner | Dell Technologies (DELL) | "We continue to strengthen strategic partnerships with leading companies such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others." |
| Partner | Cisco (CSCO) | "We are constantly working to strengthen our strategic alliances with large companies such as Soflex, Exosite, Huawei and Cisco, among others." |
| Partner | Meta Platforms (META) | "The Company further deepened the adoption of AI-based technologies in collaboration with strategic partners such as Google and Meta, as well as the use of generative AI for the large-scale development of creative assets." |
| Competitor | Netflix (NFLX) | "Flow also considers OTT internet video system providers such as Netflix, Disney+, Prime Video and On Video, among others, as competitors." |

Other companies that name TEO in their own reports (relationship from TEO's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Macro Bank Inc. (BMA) | 20-F 2026-04-20 | "Additionally, on January 22, 2026, we entered into a joint business agreement with Telecom Argentina S.A. and its directly and indirectly controlled subsidiaries, Micro Fintech Holding LLC and Micro S…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.31 | $0.00 | — | $1.75B | 2 |
| Next quarter (ends 2026-12-31) | $0.18 | $0.00 | — | $1.80B | 2 |
| Current fiscal year (ends 2026-12-31) | $1.75 | $1.54 | +13.7% | $6.93B | 4 |
| Next fiscal year (ends 2027-12-31) | $0.91 | $0.84 | +9.2% | $7.04B | 4 |