Telenor ASA (OTCMKTS:TELNY) Sees Unusually-High Trading Volume – Time to Buy?

Telenor ASA (OTCMKTS:TELNY) saw an uptick in trading volume on Monday . Approximately 83,691 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 41,243 shares.The stock last traded at $14.49 and had previously closed at $14.41.

Analysts Set New Price Targets

Several brokerages recently issued reports on TELNY. Pareto Securities downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Barclays downgraded shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note 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. Finally, Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Telenor ASA Stock Up 0.5%

The firm’s 50-day moving average price is $16.05 and its 200 day moving average price is $16.42. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 13.92 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.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. On average, sell-side analysts forecast 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.