Telenor ASA (OTCMKTS:TELNY) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Telenor ASA (OTCMKTS:TELNY – Get Rating) in a research note published on Friday morning, The Fly reports. The firm issued a neutral rating on the utilities provider’s stock.

Several other brokerages have also recently issued reports on TELNY. Nordea Equity Research raised Telenor ASA from a hold rating to a buy rating in a research report on Monday, February 6th. Barclays raised Telenor ASA from an underweight rating to an equal weight rating in a research report on Tuesday, April 18th. Finally, Pareto Securities cut Telenor ASA from a buy rating to a hold rating in a research report on Friday, April 21st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Telenor ASA presently has an average rating of Hold and an average target price of $110.00.

Telenor ASA Stock Down 2.3 %

Shares of OTCMKTS:TELNY opened at $10.46 on Friday. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 2.65 and a beta of 0.49. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. Telenor ASA has a 12-month low of $8.55 and a 12-month high of $13.86. The business’s 50 day moving average is $11.80 and its 200 day moving average is $10.77.

Telenor ASA (OTCMKTS:TELNY – Get Rating) last announced its earnings results on Thursday, May 4th. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $1.88 billion for the quarter. Telenor ASA had a net margin of 54.22% and a return on equity of 19.03%. On average, sell-side analysts forecast that Telenor ASA will post 1.76 earnings per share for the current fiscal year.

Telenor ASA Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Friday, May 12th will be given a $0.3814 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a yield of 5.79%. This is a boost from Telenor ASA’s previous dividend of $0.35. Telenor ASA’s payout ratio is currently 18.23%.

Telenor ASA Company Profile

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Telenor ASA engages in the provision of telecommunications, data, and media services. Its products and services include mobile communication, fixed line communication, and broadcasting activities. It operates through the following segments: Norway, Sweden, Denmark, DNA-Finland, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, and Other Units.