Telenor ASA (OTCMKTS:TELNY) Stock Price Down 6.9% – Time to Sell?

Telenor ASA (OTCMKTS:TELNY)’s share price traded down 6.9% during trading on Friday . The company traded as low as $16.62 and last traded at $16.69. 1,042 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 33,098 shares. The stock had previously closed at $17.92.

Analysts Set New Price Targets

TELNY has been the topic of a number of research analyst reports. Pareto Securities lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Zacks Research cut Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Finally, Citigroup cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Telenor ASA Price Performance

The stock has a fifty day moving average of $17.27 and a two-hundred day moving average of $16.18. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 15.98 and a beta of 0.28. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98.

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