Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Here’s Why

Shares of Telenor ASA (OTCMKTS:TELNY) saw strong trading volume on Wednesday . 77,341 shares were traded during mid-day trading, an increase of 215% from the previous session’s volume of 24,564 shares.The stock last traded at $18.71 and had previously closed at $18.2260.

Analyst Upgrades and Downgrades

Separately, Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Telenor ASA has a consensus rating of “Hold”.

Telenor ASA Stock Performance

The stock’s 50-day moving average price is $15.03 and its 200 day moving average price is $15.58. The firm has a market cap of $25.60 billion, a P/E ratio of 33.41 and a beta of 0.38. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.52 and a quick ratio of 0.51.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Friday, February 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.72%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, equities analysts predict that Telenor ASA will post 0.79 EPS for the current 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.