Telenor ASA (OTCMKTS:TELNY) Downgraded to "Hold" Rating by The Goldman Sachs Group

Key Points

• Goldman Sachs downgraded Telenor ASA from “strong buy” to “hold,” bringing the overall analyst consensus to “hold.” Ratings currently include one strong buy, three holds, and one sell.
• Telenor shares opened at $14.29, down 1.2%, and were trading near their 50-day average of $14.26 but below the 200-day average of $16.04.
• The company’s latest quarterly results fell short of estimates, with EPS of $0.21 versus $0.23 expected and revenue of $1.88 billion versus $1.91 billion forecast.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was downgraded by equities researchers at The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report issued on Friday, Zacks reports.

TELNY has been the subject of several other research reports. Pareto Securities raised Telenor ASA from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Barclays lowered Telenor ASA from an "equal weight" rating to an "underweight" rating in a research report on Tuesday, June 23rd. Citigroup downgraded Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded Telenor ASA from a "strong sell" rating to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

Telenor ASA Stock Down 1.2%

TELNY stock opened at $14.29 on Friday. The firm's 50-day moving average is $14.26 and its two-hundred day moving average is $16.04. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 14.58 and a beta of 0.31. Telenor ASA has a 52 week low of $12.97 and a 52 week high of $18.92.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, analysts forecast that Telenor ASA will post 0.93 earnings per share 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.

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