Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume - Should You Buy?

Key Points

• Telenor ASA saw unusually heavy trading volume, with 96,768 shares changing hands, roughly double the prior session’s volume, while the stock was nearly flat at $13.74.
• Analyst sentiment is mixed: recent moves included upgrades and downgrades, and the current consensus rating is “Hold” with one Strong Buy, two Hold, and two Sell ratings.
• The company’s latest earnings missed expectations, reporting $0.21 EPS versus $0.23 expected and revenue of $1.88 billion versus $1.91 billion estimated.

Shares of Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw unusually-strong trading volume on Friday . 96,768 shares traded hands during trading, an increase of 100% from the previous session's volume of 48,343 shares.The stock last traded at $13.74 and had previously closed at $13.70.

Wall Street Analysts Forecast Growth

TELNY has been the topic of several research analyst reports. Pareto Securities raised shares of Telenor ASA from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Barclays cut Telenor ASA from an "equal weight" rating to an "underweight" rating in a report on Tuesday, June 23rd. Zacks Research downgraded Telenor ASA from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 7th. Finally, Citigroup lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Telenor ASA presently has a consensus rating of "Hold".

Telenor ASA Stock Down 0.1%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The stock has a market cap of $18.73 billion, a P/E ratio of 13.96 and a beta of 0.31. The stock's fifty day simple moving average is $15.36 and its 200-day simple moving average is $16.42.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.75% and a net margin of 17.19%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, research analysts forecast that Telenor ASA will post 0.93 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.