Telenor ASA (OTCMKTS:TELNY) Upgraded by Pareto Securities to Strong-Buy Rating

Telenor ASA (OTCMKTS:TELNY) was upgraded by equities researchers at Pareto Securities from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Zacks Research cut Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Telenor ASA currently has an average rating of “Hold”.

Telenor ASA Trading Up 3.4%

Shares of Telenor ASA stock opened at $13.75 on Friday. The firm’s 50 day simple moving average is $15.63 and its two-hundred day simple moving average is $16.43. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 14.03 and a beta of 0.31. Telenor ASA has a 12-month low of $12.97 and a 12-month high of $18.92. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Telenor ASA had a return on equity of 15.75% and a net margin of 17.19%. Analysts predict 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.