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

Key Points

• Telenor ASA's stock reached a new 52-week high of $16.16 during trading, closing at $16.09 with a trading volume of 1,971 shares.
• Recent downgrades by multiple brokerages have affected Telenor ASA's stock ratings, with Dnb Nor Markets and New Street Research adjusting their recommendations to "strong sell" and "hold" respectively, leading to a consensus rating of "Hold."
• The company reported earnings that fell short of expectations, with a net margin of 13.67% and plans for lower earnings per share (0.79) for the current fiscal year.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.16 and last traded at $16.09, with a volume of 1971 shares traded. The stock had previously closed at $16.03.

Wall Street Analysts Forecast Growth

TELNY has been the subject of a number of research reports. Berenberg Bank lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Dnb Nor Markets downgraded Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. Finally, New Street Research lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Four 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, the stock currently has an average rating of "Reduce".

Telenor ASA Price Performance

The business has a fifty day moving average of $15.59 and a two-hundred day moving average of $14.57. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 21.84 and a beta of 0.43. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.42 and a current ratio of 0.44.

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

About Telenor ASA

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.