Telenor ASA (OTCMKTS:TELNY) Reaches New 52-Week High – Here’s Why

Telenor ASA (OTCMKTS:TELNY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.74 and last traded at $18.71, with a volume of 140865 shares changing hands. The stock had previously closed at $18.2260.

Wall Street Analyst Weigh In

Separately, Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Telenor ASA Stock Performance

The business has a 50-day moving average of $15.30 and a two-hundred day moving average of $15.65. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.52 and a quick ratio of 0.51. The company has a market cap of $25.68 billion, a P/E ratio of 33.52 and a beta of 0.38.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings results on Friday, February 6th. The utilities provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.72%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts predict that Telenor ASA will post 0.79 EPS for the current fiscal year.

Telenor ASA Company Profile

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.