Telenor ASA (OTCMKTS:TELNY) Rating Increased to Strong-Buy at Pareto Securities

Key Points

• Pareto Securities upgraded Telenor ASA from hold to strong-buy, making it one of the more bullish recent calls on the stock.
• Analyst sentiment remains mixed overall: Barclays and Zacks Research cut their ratings, Citigroup downgraded the stock earlier, and the consensus rating is still Hold.
• Telenor recently reported Q2 earnings of $0.21 per share, missing estimates, while revenue also came in slightly below expectations at $1.88 billion.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was upgraded by Pareto Securities from a "hold" rating to a "strong-buy" rating in a research report issued on Friday,Zacks.com reports.

Several other research analysts have also commented on TELNY. Barclays lowered Telenor ASA from an "equal weight" rating to an "underweight" rating in a research report on Tuesday, June 23rd. Citigroup lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Telenor ASA has a consensus rating of "Hold".

Telenor ASA Price Performance

OTCMKTS TELNY opened at $13.75 on Friday. The company has a market cap of $18.81 billion, a PE ratio of 14.03 and a beta of 0.31. The firm's 50 day moving average price is $15.63 and its 200-day moving average price is $16.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. Telenor ASA has a 52-week low of $12.97 and a 52-week high of $18.92.

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). The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.91 billion. Telenor ASA had a return on equity of 15.75% and a net margin of 17.19%. Sell-side analysts forecast that Telenor ASA will post 0.93 EPS for the current fiscal year.

About Telenor ASA

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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