Telenor ASA (OTCMKTS:TELNY) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Telenor ASA (OTCMKTS:TELNY - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.27 and traded as high as $15.54. Telenor ASA shares last traded at $15.54, with a volume of 17,517 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TELNY shares. Berenberg Bank cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Dnb Nor Markets downgraded shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd.

Telenor ASA Stock Down 0.3%

The company has a debt-to-equity ratio of 0.90, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $21.10 billion, a P/E ratio of 23.72 and a beta of 0.45. The firm's fifty day moving average price is $15.29 and its 200-day moving average price is $13.81.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Telenor ASA had a return on equity of 13.97% and a net margin of 12.19%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $19.67 billion. As a group, equities research analysts forecast that Telenor ASA will post 0.79 earnings per share for the current year.

Telenor ASA Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 10th. Stockholders 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 dividend yield of 3.81%. Telenor ASA's dividend payout ratio (DPR) is 103.08%.

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.