Telenor ASA (OTCMKTS:TELNY) Raised to Hold at Zacks Research

Telenor ASA (OTCMKTS:TELNY) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the company. Pareto Securities cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Telenor ASA Stock Performance

Telenor ASA stock opened at $16.43 on Wednesday. The business has a 50 day moving average of $17.15 and a 200-day moving average of $16.24. Telenor ASA has a 1 year low of $13.79 and a 1 year high of $18.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The company has a market capitalization of $22.48 billion, a P/E ratio of 15.80 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating 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 analysts’ expectations of $1.94 billion. On average, equities research analysts predict that Telenor ASA will post 2.09 earnings per share for the current year.

About Telenor ASA

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.