Telenor ASA (OTCMKTS:TELNY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Telenor ASA (OTCMKTS:TELNY) saw strong trading volume on Monday . 35,611 shares traded hands during trading, a decline of 33% from the previous session’s volume of 53,213 shares.The stock last traded at $14.57 and had previously closed at $14.4950.

Wall Street Analyst Weigh In

Several brokerages have commented on TELNY. Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, June 23rd. Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. The Goldman Sachs Group cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Finally, Pareto Securities raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Telenor ASA Trading Up 0.0%

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 stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 14.80 and a beta of 0.31. The business has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $15.88.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. 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 expect that Telenor ASA will post 0.93 EPS for the current year.

About Telenor ASA

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

The company operates telecommunications businesses primarily across the Nordic region and Asia. Its services include mobile voice and data, 5G connectivity, broadband access, digital entertainment, communications infrastructure, and Internet of Things solutions.