Telenor ASA (OTCMKTS:TELNY) Reaches New 52-Week Low – Here’s Why

Telenor ASA (OTCMKTS:TELNY)’s share price reached a new 52-week low on Thursday. The company traded as low as $12.97 and last traded at $13.30, with a volume of 71,679 shares traded. The stock had previously closed at $13.11.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TELNY shares. The Goldman Sachs Group downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Berenberg Bank upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Kepler Capital Markets raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Telenor ASA Stock Up 1.4%

The firm has a 50 day moving average price of $14.02 and a 200-day moving average price of $15.22. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 13.57 and a beta of 0.31. 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 earnings results 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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, equities analysts predict that Telenor ASA will post 0.93 EPS for the current fiscal year.

About Telenor ASA

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.