Telenor ASA (OTCMKTS:TELNY) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Telenor ASA (OTCMKTS:TELNY) from a sell rating to a hold rating in a research note published on Saturday morning, 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. “

Other research analysts also recently issued research reports about the stock. DNB Markets downgraded shares of Telenor ASA from a buy rating to a hold rating in a report on Friday, March 22nd. Goldman Sachs Group upgraded shares of Telenor ASA from a neutral rating to a buy rating in a report on Wednesday, May 29th. Finally, Credit Suisse Group upgraded shares of Telenor ASA from an underperform rating to a neutral rating and set a $19.36 target price on the stock in a research report on Friday, February 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Telenor ASA currently has a consensus rating of Hold and a consensus price target of $19.93.

OTCMKTS:TELNY opened at $21.82 on Friday. The stock’s 50-day moving average is $20.89. Telenor ASA has a 52-week low of $17.86 and a 52-week high of $22.27. The company has a market cap of $32.80 billion, a P/E ratio of 17.89 and a beta of 0.35.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 13.61% and a return on equity of 22.29%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.01 billion. As a group, research analysts forecast that Telenor ASA will post 1.21 earnings per share for the current fiscal year.

About Telenor ASA

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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