Telenor ASA (OTCMKTS:TELNY) Hits New 12-Month High - Here's What Happened

Key Points

• Telenor ASA's stock reached a new 52-week high of $16.95 during Tuesday's trading session, closing at $16.94.
• Recent brokerage reviews have resulted in Telenor ASA's stock being downgraded to "hold" ratings by several analysts, with an average rating of "Reduce."
• The company reported a quarterly EPS of $0.21, missing expectations, with total revenue of $1.97 billion, significantly lower than analyst estimates.

Telenor ASA (OTCMKTS:TELNY - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.95 and last traded at $16.94, with a volume of 3101 shares changing hands. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TELNY. New Street Research cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Berenberg Bank cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Telenor ASA currently has an average rating of "Reduce".

Telenor ASA Stock Performance

The stock's 50 day moving average price is $15.94 and its 200 day moving average price is $14.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.42 and a current ratio of 0.44. The company has a market capitalization of $23.18 billion, a P/E ratio of 22.89 and a beta of 0.42.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The utilities provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). Telenor ASA had a net margin of 13.67% and a return on equity of 14.56%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $20.02 billion. As a group, equities analysts expect that Telenor ASA will post 0.79 EPS for the current year.

Telenor ASA Company Profile

Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to residential and business customers, as well as wholesale services.

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