Telenor ASA (OTCMKTS:TELNY) Stock Rating Raised to Strong-Buy at New Street Research

Key Points

• New Street Research upgraded Telenor ASA from “hold” to “strong buy.” Other firms have issued mixed views, resulting in a MarketBeat consensus rating of “Moderate Buy.”
• Telenor shares opened at $14.32, with a 12-month range of $12.97 to $18.92 and a market capitalization of approximately $19.59 billion.
• The company reported quarterly EPS of $0.28, beating estimates of $0.24, while revenue of $1.99 billion also exceeded the $1.93 billion consensus forecast.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was upgraded by equities research analysts at New Street Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Several other research firms have also issued reports on TELNY. Zacks Research lowered shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Kepler Capital Markets raised Telenor ASA from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 24th. Berenberg Bank upgraded Telenor ASA from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. The Goldman Sachs Group lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report 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. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Telenor ASA has an average rating of "Moderate Buy".

Telenor ASA Stock Performance

OTCMKTS:TELNY opened at $14.32 on Monday. Telenor ASA has a twelve month low of $12.97 and a twelve month high of $18.92. 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 50-day moving average of $13.92 and a 200-day moving average of $15.63. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 14.95 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Telenor ASA had a net margin of 26.85% and a return on equity of 16.94%. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.93 billion. Analysts forecast that Telenor ASA will post 0.90 earnings per share for the current fiscal year.

Telenor ASA Company Profile

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

Telenor's core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.

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