Telenor ASA (OTCMKTS:TELNY) Shares Gap Up – Still a Buy?

Telenor ASA (OTCMKTS:TELNY – Get Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $17.1075, but opened at $17.87. Telenor ASA shares last traded at $17.87, with a volume of 287 shares changing hands.

Analysts Set New Price Targets

TELNY has been the topic of several analyst reports. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

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Telenor ASA Stock Up 0.6%

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 stock has a market cap of $24.03 billion, a price-to-earnings ratio of 16.89 and a beta of 0.28. The firm’s 50-day simple moving average is $17.28 and its two-hundred day simple moving average is $16.13.

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

Telenor ASA Company Profile

(Get Free Report)

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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