Berenberg Bank Upgrades Telenor ASA (OTCMKTS:TELNY) to “Strong-Buy”

Telenor ASA (OTCMKTS:TELNY) was upgraded by Berenberg Bank from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other research analysts have also recently commented on the company. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. Kepler Capital Markets upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Telenor ASA currently has a consensus rating of “Moderate Buy”.

Telenor ASA Trading Down 0.5%

Shares of TELNY stock opened at $13.27 on Thursday. The company has a market cap of $18.16 billion, a PE ratio of 13.54 and a beta of 0.31. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92. The stock’s 50 day simple moving average is $14.15 and its two-hundred day simple moving average is $15.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. Research analysts predict that Telenor ASA will post 0.93 earnings per share for the current year.

Telenor ASA Company Profile

Telenor ASA is a Norwegian telecommunications company that provides mobile and fixed-line communications services, broadband, television, and related digital services. Its offerings serve consumer and business customers and include mobile voice and data, fiber and wireless broadband, connectivity, Internet of Things solutions, and other communications services.

Headquartered in Fornebu, Norway, Telenor operates primarily in the Nordic region and has established partnerships and investments in telecommunications businesses in parts of Asia.