Telenor ASA (OTCMKTS:TELNY) Rating Lowered to Strong Sell at Zacks Research

Telenor ASA (OTCMKTS:TELNY) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on TELNY. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Telenor ASA Stock Performance

TELNY stock opened at $14.75 on Tuesday. The firm has a market cap of $20.18 billion, a PE ratio of 14.18 and a beta of 0.31. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $15.89 and a 200-day moving average price of $16.43. Telenor ASA has a 1-year low of $13.79 and a 1-year high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, equities research analysts expect 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.