Telenor ASA (OTCMKTS:TELNY) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Telenor ASA (OTCMKTS:TELNY) have been given a consensus rating of “Reduce” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company.

Several equities analysts have commented on TELNY shares. Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday. Finally, Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th.

Telenor ASA Trading Down 1.6%

Shares of TELNY traded down $0.25 during mid-day trading on Tuesday, hitting $14.65. 5,901 shares of the company’s stock traded hands, compared to its average volume of 38,420. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. Telenor ASA has a 1 year low of $13.79 and a 1 year high of $18.92. The firm has a market capitalization of $20.05 billion, a P/E ratio of 14.09 and a beta of 0.28. The business’s 50-day moving average price is $16.57 and its 200-day moving average price is $16.41.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. As a group, sell-side analysts forecast that Telenor ASA will post 2.09 EPS for the current fiscal 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.