Telenor ASA (OTCMKTS:TELNY) Sets New 12-Month High - What's Next?

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)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $16.16 and last traded at $16.09, with a volume of 1971 shares trading hands. The stock had previously closed at $16.03.

Analysts Set New Price Targets

Several brokerages recently commented on TELNY. Dnb Nor Markets cut shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd. New Street Research downgraded shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. Finally, Berenberg Bank downgraded shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Telenor ASA Stock Up 0.6%

The firm has a 50 day moving average price of $15.54 and a 200-day moving average price of $14.45. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.02. The firm has a market cap of $22.07 billion, a PE ratio of 21.80 and a beta of 0.43.

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 for the quarter, missing the consensus estimate of $0.22 by ($0.01). Telenor ASA had a return on equity of 14.56% and a net margin of 13.67%. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $20.02 billion. Research analysts forecast that Telenor ASA will post 0.79 EPS for the current fiscal year.

Telenor ASA Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 26th were issued a $0.299 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a yield of 381.0%. Telenor ASA's dividend payout ratio is 90.54%.

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.

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