Telenor ASA (OTCMKTS:TELNY) Posts Earnings Results, Misses Estimates By $0.02 EPS

Telenor ASA (OTCMKTS:TELNY) issued its quarterly earnings results on Thursday. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%.

Telenor ASA Stock Down 1.6%

OTCMKTS:TELNY opened at $14.95 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The firm has a market cap of $20.46 billion, a P/E ratio of 14.38 and a beta of 0.31. Telenor ASA has a fifty-two week low of $13.79 and a fifty-two week high of $18.92. The firm has a 50-day simple moving average of $15.75 and a two-hundred day simple moving average of $16.45.

Analysts Set New Price Targets

TELNY has been the topic of a number of analyst reports. Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Finally, Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

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.