Telenor ASA (OTCMKTS:TELNY) Reaches New 52-Week High - Here's Why

Key Points

• Telenor ASA's share price reached a new 52-week high of $16.75 on Tuesday, closing at $16.66 with a trading volume of 4,999 shares.
• Research analysts have dropped Telenor's rating from "strong-buy" to "hold," with the consensus rating currently at "Reduce."
• The company reported EPS of $0.21 for its last quarter, missing estimates, with revenue of $1.97 billion compared to expectations of $20.02 billion.

Shares of Telenor ASA (OTCMKTS:TELNY - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.75 and last traded at $16.66, with a volume of 4999 shares changing hands. The stock had previously closed at $16.66.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TELNY shares. 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 lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Telenor ASA currently has a consensus rating of "Reduce".

Telenor ASA Price Performance

The stock's fifty day moving average price is $15.92 and its two-hundred day moving average price is $14.93. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 22.59 and a beta of 0.42. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.02.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The utilities provider reported $0.21 earnings per share 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 analyst estimates of $20.02 billion. Equities research 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.