Telenor ASA (OTCMKTS:TELNY) Shares Gap Down - Here's What Happened

Key Points

• Telenor ASA shares gapped down pre-market, opening at $17.01 vs. the prior close of $17.69 and last trading at $17.03 on light volume (1,155 shares).
• Pareto Securities downgraded the stock from "strong-buy" to "hold", and analyst consensus across five firms is an average rating of "Reduce" (four Holds, one Sell).
• In the most recent quarter Telenor missed estimates—EPS $0.22 vs. $0.24 expected and revenue $2.03B vs. $2.07B—and shows tight liquidity (quick ratio 0.69, current ratio 0.71) with a P/E of 30.79 and market cap ≈ $23.6B.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $17.69, but opened at $17.01. Telenor ASA shares last traded at $17.03, with a volume of 1,155 shares trading hands.

Analysts Set New Price Targets

Separately, Pareto Securities downgraded shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Telenor ASA presently has an average rating of "Reduce".

Telenor ASA Price Performance

The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98. The business's 50-day simple moving average is $17.79 and its 200 day simple moving average is $16.05. The firm has a market capitalization of $23.59 billion, a P/E ratio of 30.79 and a beta of 0.36.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The utilities provider reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.07 billion. Sell-side analysts forecast that Telenor ASA will post 0.79 earnings per share for the current 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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