Telenor ASA (OTCMKTS:TELNY) Upgraded to “Hold” at Zacks Research

Telenor ASA (OTCMKTS:TELNY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other equities analysts have also commented on TELNY. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Barclays downgraded Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Finally, Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Telenor ASA Stock Down 0.1%

Shares of TELNY stock opened at $14.53 on Tuesday. The company’s fifty day simple moving average is $14.27 and its two-hundred day simple moving average is $16.08. Telenor ASA has a 52 week low of $12.97 and a 52 week high of $18.92. The stock has a market cap of $19.88 billion, a P/E ratio of 14.83 and a beta of 0.31. The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 1.06.

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