Telenor ASA (OTCMKTS:TELNY) Hits New 12-Month Low - Here's Why

Key Points

• Telenor ASA shares hit a new 52-week low, falling to $12.97 before last trading at $13.08, down from the prior close of $13.25.
• Analyst opinion remains mixed, with three Strong Buy, three Hold, and one Sell rating; MarketBeat reports a consensus rating of “Moderate Buy.”
• Telenor’s latest quarterly results missed expectations, with earnings per share of $0.21 versus the $0.23 consensus estimate and revenue of $1.88 billion versus forecasts of $1.91 billion.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) reached a new 52-week low during trading on Friday. The stock traded as low as $12.97 and last traded at $13.08, with a volume of 28353 shares traded. The stock had previously closed at $13.25.

Analysts Set New Price Targets

TELNY has been the subject of several research analyst reports. Barclays lowered Telenor ASA from an "equal weight" rating to an "underweight" rating in a report on Tuesday, June 23rd. Berenberg Bank raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. Pareto Securities raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Zacks Research upgraded shares of Telenor ASA from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Telenor ASA currently has a consensus rating of "Moderate Buy".

Telenor ASA Stock Down 0.7%

The firm has a 50-day moving average of $14.09 and a two-hundred day moving average of $15.33. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 13.42 and a beta of 0.31. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.91 billion. As a group, sell-side analysts predict that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

About Telenor ASA

Telenor ASA is a Norwegian telecommunications company that provides mobile and fixed-line communications services, broadband, television, and related digital services. Its offerings serve consumer and business customers and include mobile voice and data, fiber and wireless broadband, connectivity, Internet of Things solutions, and other communications services.

Headquartered in Fornebu, Norway, Telenor operates primarily in the Nordic region and has established partnerships and investments in telecommunications businesses in parts of Asia.

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