Telenor ASA (OTCMKTS:TELNY) Shares Gap Down - What's Next?

Key Points

• Telenor ASA shares gapped down from a prior close of $13.56 to open at $13.12, later trading near $13.17 on volume of 35,033 shares.
• Analyst opinions remain mixed, but the stock carries a “Moderate Buy” consensus rating from MarketBeat, based on three Strong Buy, three Hold, and one Sell rating.
• Telenor’s latest quarterly results missed expectations, with earnings of $0.21 per share versus $0.23 expected and revenue of $1.88 billion versus $1.91 billion forecast; analysts project $0.93 in annual EPS.

Shares of Telenor ASA (OTCMKTS:TELNY - Get Free Report) gapped down before the market opened on Tuesday. The stock had previously closed at $13.56, but opened at $13.12. Telenor ASA shares last traded at $13.1720, with a volume of 35,033 shares traded.

Analysts Set New Price Targets

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

Telenor ASA Stock Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. The stock has a market cap of $18.08 billion, a P/E ratio of 13.48 and a beta of 0.31. The stock has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $15.42.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last posted its earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates 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. Research analysts forecast that Telenor ASA will post 0.93 earnings per share for the current year.

Telenor ASA Company Profile

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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