Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $15.74, but opened at $14.9410. Telenor ASA shares last traded at $14.95, with a volume of 2,838 shares.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Telenor ASA has an average rating of “Hold”.

Telenor ASA Trading Up 0.1%

The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 14.46 and a beta of 0.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The firm’s fifty day moving average is $16.75 and its 200-day moving average is $16.39.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. Equities analysts anticipate that Telenor ASA will post 2.09 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.