Telenor ASA (OTCMKTS:TELNY) Raised to Hold at Zacks Research

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

Several other research firms 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. Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Telenor ASA currently has a consensus rating of “Hold”.

Telenor ASA Price Performance

Telenor ASA stock opened at $14.53 on Tuesday. The firm has a market cap of $19.88 billion, a PE ratio of 14.83 and a beta of 0.31. Telenor ASA has a 52-week low of $12.97 and a 52-week high of $18.92. 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 company’s 50 day moving average is $14.27 and its two-hundred day moving average is $16.08.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. On average, research analysts expect 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.