Zacks Investment Research Downgrades Telenor ASA (TELNY) to Hold
Zacks Investment Research lowered shares of Telenor ASA (OTCMKTS:TELNY) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “
Separately, ValuEngine upgraded Telenor ASA from a hold rating to a buy rating in a research note on Thursday, October 26th.
Shares of Telenor ASA (OTCMKTS:TELNY) traded up $0.22 during trading hours on Friday, reaching $23.45. The company’s stock had a trading volume of 40,066 shares, compared to its average volume of 40,156. The company has a market cap of $34,878.87, a P/E ratio of 23.93, a PEG ratio of 6.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.69. Telenor ASA has a 52-week low of $15.38 and a 52-week high of $23.48.
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About Telenor ASA
Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.
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