Telenor ASA (OTCMKTS:TELNY) Hits New 1-Year Low After Earnings Miss

Telenor ASA (OTCMKTS:TELNY)’s share price reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $12.97 and last traded at $12.97, with a volume of 2281 shares trading hands. The stock had previously closed at $14.96.

The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TELNY shares. Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Barclays downgraded Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Telenor ASA Trading Down 11.8%

The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 12.69 and a beta of 0.31. The company has a fifty day simple moving average of $15.75 and a 200-day simple moving average of $16.45.

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.