Telenor ASA (OTCMKTS:TELNY) Downgraded to Hold Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Telenor ASA (OTCMKTS:TELNY) from a strong-buy rating to a hold rating in a report issued on Friday morning,Zacks reports.

Several other brokerages have also issued reports on TELNY. Barclays lowered Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Telenor ASA currently has a consensus rating of “Hold”.

Telenor ASA Stock Down 1.2%

Shares of OTCMKTS TELNY opened at $14.29 on Friday. The company has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $16.04. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92. The firm has a market cap of $19.55 billion, a PE ratio of 14.58 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results 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 return on equity of 15.27% and a net margin of 17.19%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. On average, research analysts forecast that Telenor ASA will post 0.93 EPS for the current 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.