Telenor ASA (OTCMKTS:TELNY) Shares Gap Up – Here’s Why

Telenor ASA (OTCMKTS:TELNY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $16.67, but opened at $18.0540. Telenor ASA shares last traded at $18.02, with a volume of 1,372 shares.

Analyst Upgrades and Downgrades

Separately, Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One equities research 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 company’s stock. According to MarketBeat.com, Telenor ASA presently has an average rating of “Hold”.

Telenor ASA Trading Up 1.3%

The company’s fifty day simple moving average is $14.88 and its two-hundred day simple moving average is $15.55. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $24.83 billion, a price-to-earnings ratio of 32.40 and a beta of 0.38.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Friday, February 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a return on equity of 15.72% and a net margin of 10.15%.The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.07 billion. Research analysts forecast that Telenor ASA will post 0.79 earnings per share for the current fiscal 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.