Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – What’s Next?

Shares of Telenor ASA (OTCMKTS:TELNY) saw strong trading volume on Monday . 129,349 shares were traded during trading, an increase of 140% from the previous session’s volume of 53,876 shares.The stock last traded at $14.3450 and had previously closed at $14.36.

Analysts Set New Price Targets

Several research firms have recently commented on TELNY. Barclays lowered shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Telenor ASA has a consensus rating of “Hold”.

Telenor ASA Trading Down 0.1%

The business has a 50-day moving average of $14.35 and a two-hundred day moving average of $16.26. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 14.63 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. Research analysts predict that Telenor ASA will post 0.93 EPS for the current fiscal year.

About Telenor ASA

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.