Telenor ASA (OTCMKTS:TELNY) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Telenor ASA (OTCMKTS:TELNY)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.93 and traded as low as $15.60. Telenor ASA shares last traded at $15.68, with a volume of 24,385 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Citigroup lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Telenor ASA Stock Up 1.5%

The firm has a market cap of $21.85 billion, a PE ratio of 15.36 and a beta of 0.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The business has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $16.36.

Telenor ASA (OTCMKTS:TELNY) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. On average, analysts anticipate that Telenor ASA will post 2.09 EPS for the current fiscal 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.