Telenor ASA (OTCMKTS:TELNY) Share Price Crosses Below 50-Day Moving Average - Time to Sell?

Key Points

• Telenor ASA shares fell below their 50-day moving average, trading as low as $14.1250 and closing around $14.14, compared with a 50-day average of $14.47. The stock’s 200-day moving average is higher at $16.33, indicating recent weakness.
• Analyst sentiment is mixed but leans cautious: one analyst rates the stock Strong Buy, one rates it Hold, and two rate it Sell, resulting in a consensus rating of Hold.
• Telenor’s latest quarterly results fell short of expectations, with earnings per share of $0.21 versus $0.23 expected and revenue of $1.88 billion versus $1.91 billion forecast. Analysts expect full-year EPS of approximately $0.93.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.47 and traded as low as $14.1250. Telenor ASA shares last traded at $14.14, with a volume of 94,951 shares.

Wall Street Analysts Forecast Growth

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

Telenor ASA Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.32 and a debt-to-equity ratio of 1.06. The firm has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $16.33. The company has a market cap of $19.35 billion, a price-to-earnings ratio of 14.43 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. On average, sell-side analysts predict that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

About Telenor ASA

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.

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