Telenor ASA (OTCMKTS:TELNY) Shares Gap Up – Still a Buy?

Telenor ASA (OTCMKTS:TELNY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $17.1075, but opened at $17.87. Telenor ASA shares last traded at $17.87, with a volume of 287 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TELNY. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Finally, Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Telenor ASA has an average rating of “Reduce”.

Telenor ASA Trading Up 1.6%

The company’s 50 day simple moving average is $17.28 and its 200 day simple moving average is $16.16. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 17.23 and a beta of 0.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly 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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. As a group, research analysts expect that Telenor ASA will post 2.09 earnings per share for the current fiscal 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.