Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume on Analyst Upgrade

Telenor ASA (OTCMKTS:TELNY) shares saw strong trading volume on Thursday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. 80,155 shares were traded during trading, an increase of 145% from the previous session’s volume of 32,692 shares.The stock last traded at $16.4650 and had previously closed at $16.49.

Several other research analysts have also issued reports on TELNY. Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Telenor ASA Stock Down 0.5%

The business has a fifty day moving average price of $17.12 and a two-hundred day moving average price of $16.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 15.71 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last posted its 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. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. On average, equities analysts expect that Telenor ASA will post 2.09 earnings per share 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.