Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume - Here's Why

Key Points

• Telenor ASA shares traded actively, with about 35,611 shares changing hands—down 33% from the prior session—while the stock rose to $14.57 from a $14.495 close.
• Analyst sentiment is mixed: Pareto Securities upgraded the stock to “strong buy,” while Goldman Sachs moved it to “hold” and Barclays downgraded it to “underweight.” Overall, MarketBeat rates the shares a “hold.”
• Telenor’s latest quarterly results fell short of expectations, with EPS of $0.21 versus $0.23 estimated and revenue of $1.88 billion versus $1.91 billion expected; analysts project full-year EPS of $0.93.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) shares saw strong trading volume on Monday . Approximately 35,611 shares traded hands during mid-day trading, a decline of 33% from the previous session's volume of 53,213 shares.The stock last traded at $14.57 and had previously closed at $14.4950.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. 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 Telenor ASA from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 1st. The Goldman Sachs Group cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, September 4th. Finally, Barclays downgraded shares of Telenor ASA from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold".

Telenor ASA Price Performance

The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 14.80 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32. The company has a 50-day moving average of $14.27 and a 200-day moving average of $15.88.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.27% and a net margin of 17.19%.The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts anticipate that Telenor ASA will post 0.93 EPS for the current fiscal year.

Telenor ASA Company Profile

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

The company operates telecommunications businesses primarily across the Nordic region and Asia. Its services include mobile voice and data, 5G connectivity, broadband access, digital entertainment, communications infrastructure, and Internet of Things solutions.

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