Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Here’s Why

Telenor ASA (OTCMKTS:TELNY – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $17.92, but opened at $17.19. Telenor ASA shares last traded at $17.06, with a volume of 2,162 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TELNY. Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Zacks Research lowered Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

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Telenor ASA Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The firm has a market capitalization of $23.37 billion, a P/E ratio of 16.42 and a beta of 0.28. The company has a 50-day moving average price of $17.28 and a 200-day moving average price of $16.16.

Telenor ASA (OTCMKTS:TELNY – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, sell-side analysts predict that Telenor ASA will post 2.09 earnings per share for the current year.

About Telenor ASA

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Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.

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