Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Time to Buy?

Shares of Telenor ASA (OTCMKTS:TELNY) saw strong trading volume on Monday . Approximately 129,349 shares traded hands during trading, an increase of 140% from the previous session’s volume of 53,876 shares.The stock last traded at $14.3450 and had previously closed at $14.36.

Analysts Set New Price Targets

Several brokerages have commented on TELNY. Citigroup downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Telenor ASA Trading Down 0.1%

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 has a 50-day simple moving average of $14.35 and a two-hundred day simple moving average of $16.26. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 14.63 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts forecast that Telenor ASA will post 0.93 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.