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

Key Points

• Telenor shares fell 3.9%, opening at $13.47 versus a prior close of $13.96 and later trading near $13.43.
• Analyst opinions are mixed, but the stock carries a “Moderate Buy” consensus rating based on three Strong Buy, three Hold, and one Sell recommendation.
• Telenor’s latest quarterly results missed expectations, with EPS of $0.21 versus $0.23 forecast and revenue of $1.88 billion versus $1.91 billion expected.

Telenor ASA (OTCMKTS:TELNY - Get Free Report)'s stock price gapped down prior to trading on Friday. The stock had previously closed at $13.96, but opened at $13.47. Telenor ASA shares last traded at $13.4315, with a volume of 4,066 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 4th. Pareto Securities raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Kepler Capital Markets raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 24th. Zacks Research raised shares of Telenor ASA from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 1st. 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 stock. Based on data from MarketBeat, Telenor ASA currently has a consensus rating of "Moderate Buy".

Telenor ASA Trading Down 3.9%

The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 13.69 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 price of $14.02 and a 200-day moving average price of $15.20.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last posted 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). The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%. As a group, research analysts forecast that Telenor ASA will post 0.93 EPS for the current fiscal 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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