Telenor ASA (OTCMKTS:TELNY) Stock Breaks Below Fifty Day Moving Average - Here's What Happened

Key Points

• Telenor ASA shares fell below their 50-day moving average of $14.17, reaching $13.5022 before last trading at $13.64 on volume of 55,846 shares.
• Analyst sentiment is mixed, with one Strong Buy, three Hold ratings, and one Sell rating; MarketBeat reports an overall average rating of Hold.
• The company missed quarterly expectations, reporting $0.21 in earnings per share versus a $0.23 estimate and revenue of $1.88 billion versus $1.91 billion expected.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $14.17 and traded as low as $13.5022. Telenor ASA shares last traded at $13.64, with a volume of 55,846 shares traded.

Wall Street Analysts Forecast Growth

TELNY has been the subject of several recent research reports. Pareto Securities upgraded 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 research report on Tuesday, September 1st. The Goldman Sachs Group lowered 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 report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

Telenor ASA Price 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 capitalization of $18.66 billion, a price-to-earnings ratio of 13.92 and a beta of 0.31. The company has a 50-day simple moving average of $14.17 and a two-hundred day simple moving average of $15.62.

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 for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. On average, equities research analysts predict that Telenor ASA will post 0.93 earnings per share for the current year.

About Telenor ASA

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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