Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase - Here's Why

Shares of Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw an uptick in trading volume on Tuesday . 31,064 shares traded hands during trading, a decline of 14% from the previous session's volume of 36,297 shares.The stock last traded at $15.37 and had previously closed at $15.41.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TELNY. Dnb Nor Markets downgraded Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Berenberg Bank cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Telenor ASA currently has a consensus rating of "Hold".

Telenor ASA Price Performance

The company has a 50 day moving average of $15.25 and a two-hundred day moving average of $13.68. The firm has a market cap of $21.14 billion, a P/E ratio of 23.77 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.90.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Telenor ASA had a net margin of 12.19% and a return on equity of 13.97%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $19.67 billion. Sell-side analysts expect that Telenor ASA will post 0.79 EPS for the current year.

Telenor ASA Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were issued a dividend of $0.299 per share. This represents a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, May 23rd. Telenor ASA's dividend payout ratio is 103.08%.

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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