Telenor ASA (OTCMKTS:TELNY) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Telenor ASA (OTCMKTS:TELNY) announced its earnings results on Wednesday. The utilities provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04, Zacks reports. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.93 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.

Telenor ASA Stock Performance

TELNY opened at $14.05 on Thursday. The firm has a market cap of $19.23 billion, a P/E ratio of 14.34 and a beta of 0.31. Telenor ASA has a 52-week low of $12.97 and a 52-week high of $18.92. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32. The business’s fifty day moving average is $13.92 and its 200-day moving average is $15.63.

Analyst Ratings Changes

Several analysts recently issued reports on TELNY shares. Berenberg Bank upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Zacks Research cut Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Kepler Capital Markets upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 24th. Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Telenor ASA has an average rating of “Moderate Buy”.

About Telenor ASA

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. The company provides mobile voice and data services, fixed broadband, television, digital communications and related technology services to consumers, businesses and public-sector customers.

Telenor’s core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.