Telenor ASA (OTCMKTS:TELNY) Shares Gap Up – Time to Buy?

Telenor ASA (OTCMKTS:TELNY) gapped up prior to trading on Tuesday . The stock had previously closed at $17.1075, but opened at $17.87. Telenor ASA shares last traded at $17.87, with a volume of 287 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research cut Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Pareto Securities cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Telenor ASA Price Performance

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 company’s 50-day simple moving average is $17.28 and its 200-day simple moving average is $16.13. The stock has a market capitalization of $24.03 billion, a P/E ratio of 16.89 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data 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. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, sell-side analysts expect that Telenor ASA will post 2.09 EPS 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.