Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Here’s Why

Shares of Telenor ASA (OTCMKTS:TELNY) saw an uptick in trading volume on Monday . Approximately 129,349 shares were traded during mid-day trading, an increase of 140% from the previous session’s volume of 53,876 shares.The stock last traded at $14.3450 and had previously closed at $14.36.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TELNY shares. Zacks Research cut shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Finally, Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Telenor ASA Stock Performance

The company has a market capitalization of $19.99 billion, a P/E ratio of 14.91 and a beta of 0.31. The business has a 50 day moving average of $14.30 and a 200 day moving average of $16.23. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 1.06.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Thursday, July 16th. 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 15.27% and a net margin of 17.19%.The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, sell-side analysts predict that Telenor ASA will post 0.93 earnings per share for the current 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.