Telenor ASA (OTCMKTS:TELNY) Downgraded to Hold Rating by Citigroup

Key Points

• Citigroup downgraded Telenor ASA from "strong-buy" to "hold," joining Pareto and Zacks in lowering recommendations and leaving a MarketBeat consensus rating of "Reduce" (four Holds, one Sell).
• Telenor slightly beat Q1 estimates with $0.23 EPS vs. $0.21 expected and $1.95 billion revenue, reporting a 18.28% net margin and 16.31% ROE, while sell-side analysts forecast about 2.09 EPS for the year.
• The stock trades around $16.53 with a market cap of $22.62 billion, a P/E of 15.89, a 50-day/200-day moving average of $17.42/$16.10, and a 1-year range of $13.79–$18.92.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was downgraded by investment analysts at Citigroup from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

TELNY has been the topic of a number of other research reports. Pareto Securities lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Zacks Research lowered shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce".

Telenor ASA Stock Performance

Telenor ASA stock opened at $16.53 on Thursday. The firm has a 50-day moving average of $17.42 and a 200-day moving average of $16.10. The firm has a market cap of $22.62 billion, a P/E ratio of 15.89 and a beta of 0.28. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. Telenor ASA has a 1-year low of $13.79 and a 1-year high of $18.92.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. Sell-side analysts expect that Telenor ASA will post 2.09 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA is a Norway-based multinational telecommunications company that provides a broad range of communications and digital services to consumers and businesses. Its core offerings include mobile voice and data services, fixed broadband, television distribution, and related value-added digital services. The company also provides enterprise solutions such as business connectivity, cloud and hosting services, Internet of Things (IoT) connectivity, and wholesale telecommunications services.

In its consumer-facing business, Telenor operates mobile networks, broadband access and content services, and increasingly bundles digital and financial services to enhance customer engagement.

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