Telenor ASA (OTCMKTS:TELNY) Cut to “Hold” at The Goldman Sachs Group

Telenor ASA (OTCMKTS:TELNY) was downgraded by analysts at The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report issued on Friday, Zacks reports.

Several other research firms have also issued reports on TELNY. Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note 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 lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Telenor ASA Stock Down 1.2%

TELNY opened at $14.29 on Friday. The business has a 50 day moving average of $14.26 and a 200-day moving average of $16.04. The stock has a market capitalization of $19.55 billion, a price-to-earnings ratio of 14.58 and a beta of 0.31. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. Telenor ASA has a 1-year low of $12.97 and a 1-year high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. As a group, sell-side analysts anticipate that Telenor ASA will post 0.93 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.