Telenor ASA (OTCMKTS:TELNY) Stock Crosses Below Fifty Day Moving Average of $12.92

Telenor ASA (OTCMKTS:TELNY – Get Rating)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.92 and traded as low as $11.68. Telenor ASA shares last traded at $11.72, with a volume of 41,775 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TELNY. HSBC cut Telenor ASA from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Barclays boosted their price target on Telenor ASA from 120.00 to 125.00 in a research report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $143.50.

Telenor ASA Stock Performance

The stock has a market capitalization of $16.40 billion, a P/E ratio of 16.51 and a beta of 0.39. The business has a 50-day moving average price of $12.92 and a 200 day moving average price of $14.14. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.76 and a current ratio of 0.78.

Telenor ASA (OTCMKTS:TELNY – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.56 earnings per share for the quarter. Telenor ASA had a net margin of 8.01% and a return on equity of 36.30%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.99 billion. As a group, sell-side analysts forecast that Telenor ASA will post 0.82 EPS for the current fiscal year.

Telenor ASA Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were issued a $0.4647 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a yield of 9.69%. Telenor ASA’s payout ratio is currently 104.23%.

Telenor ASA Company Profile

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Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. Its principal products and services include mobile communication, fixed line communication, and broadcasting services. The company's mobile communication services comprise voice, data, Internet, and content services, as well as customer equipment and messaging.