Telenor ASA (OTCMKTS:TELNY) Shares Gap Down on Analyst Downgrade

Telenor ASA (OTCMKTS:TELNY) shares gapped down before the market opened on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $17.58, but opened at $16.33. Telenor ASA shares last traded at $16.31, with a volume of 1,154 shares traded.

Separately, Pareto Securities cut 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 one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Telenor ASA Stock Down 1.9%

The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 28.64 and a beta of 0.36. 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 business’s 50 day moving average is $17.57 and its 200-day moving average is $16.10.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.92 billion. Telenor ASA had a return on equity of 15.52% and a net margin of 10.15%. On average, sell-side analysts predict 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.