Telenor ASA (OTCMKTS:TELNY) Lowered to “Sell” at Zacks Investment Research

Telenor ASA (OTCMKTS:TELNY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, reports.

According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “

A number of other research analysts have also recently issued reports on TELNY. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Telenor ASA in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Telenor ASA in a research report on Tuesday, April 27th. The Goldman Sachs Group cut shares of Telenor ASA from a “buy” rating to a “neutral” rating in a research report on Monday, March 22nd. Berenberg Bank restated a “hold” rating on shares of Telenor ASA in a research report on Friday, April 30th. Finally, Exane BNP Paribas cut shares of Telenor ASA from an “outperform” rating to a “neutral” rating in a research report on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.00.

OTCMKTS:TELNY opened at $18.09 on Friday. Telenor ASA has a 1 year low of $14.15 and a 1 year high of $18.78. The firm has a 50 day moving average of $17.97 and a 200-day moving average of $17.20. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $26.62 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 0.44 and a beta of 0.53.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. Its principal products and services include mobile communication, fixed line communication, and broadcasting services. The company's mobile communication services comprise voice, data, internet, and content services, as well as customer equipment and messaging.

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