Barclays Downgrades Telenor ASA (OTCMKTS:TELNY) to Underweight

Telenor ASA (OTCMKTS:TELNY) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report released on Tuesday.

Other equities research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Pareto Securities cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Telenor ASA Trading Down 0.3%

Shares of Telenor ASA stock opened at $14.89 on Tuesday. 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 company has a fifty day simple moving average of $16.57 and a 200-day simple moving average of $16.41. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 14.32 and a beta of 0.28. Telenor ASA has a 12-month low of $13.79 and a 12-month high of $18.92.

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