Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Here’s What Happened

Shares of Telenor ASA (OTCMKTS:TELNY) gapped down before the market opened on Thursday . The stock had previously closed at $17.92, but opened at $17.19. Telenor ASA shares last traded at $17.06, with a volume of 2,162 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Telenor ASA currently has an average rating of “Reduce”.

Telenor ASA Stock Down 3.5%

The company has a market capitalization of $22.67 billion, a P/E ratio of 15.93 and a beta of 0.28. The firm’s 50 day moving average price is $17.25 and its two-hundred day moving average price is $16.18. 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 issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Equities research analysts forecast that Telenor ASA will post 2.09 EPS for the current 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.