Telenor ASA (OTCMKTS:TELNY) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Telenor ASA (OTCMKTS:TELNY) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on TELNY. Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Barclays downgraded Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Finally, Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Telenor ASA Stock Performance

OTCMKTS:TELNY opened at $14.75 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. Telenor ASA has a fifty-two week low of $13.79 and a fifty-two week high of $18.92. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 14.18 and a beta of 0.31. The stock has a fifty day moving average price of $15.89 and a 200-day moving average price of $16.43.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, equities analysts anticipate that Telenor ASA will post 2.09 EPS for the current fiscal 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.