Telenor ASA (OTCMKTS:TELNY) Downgraded to Hold Rating by Citigroup

Telenor ASA (OTCMKTS:TELNY) was downgraded by equities research analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

TELNY has been the subject of a number of other reports. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Zacks Research cut shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Telenor ASA has an average rating of “Reduce”.

Telenor ASA Stock Performance

Shares of OTCMKTS TELNY opened at $16.53 on Thursday. Telenor ASA has a 1 year low of $13.79 and a 1 year high of $18.92. The stock has a market cap of $22.62 billion, a P/E ratio of 15.89 and a beta of 0.28. The firm has a 50-day moving average of $17.42 and a 200 day moving average of $16.10. 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 issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, sell-side analysts expect 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.