Telenor ASA (OTCMKTS:TELNY) Shares Gap Down - What's Next?

Key Points

• Telenor ASA shares gapped down at the open, falling from a prior close of $14.96 to $13.99 and last trading around $13.95 on light volume.
• Recent analyst sentiment has turned more negative, with several firms cutting ratings; the stock now carries an average "Reduce" rating from analysts.
• The company’s latest earnings beat expectations, reporting $0.23 EPS versus $0.21 expected, while revenue also slightly topped estimates at $1.95 billion.

Telenor ASA (OTCMKTS:TELNY - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $14.96, but opened at $13.99. Telenor ASA shares last traded at $13.95, with a volume of 3,010 shares traded.

Analyst Upgrades and Downgrades

TELNY has been the topic of a number of recent research reports. Zacks Research lowered Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Barclays lowered Telenor ASA from an "equal weight" rating to an "underweight" rating in a report on Tuesday, June 23rd. Citigroup cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 7th. Finally, Pareto Securities lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce".

Telenor ASA Stock Performance

The stock has a market capitalization of $19.07 billion, a PE ratio of 13.40 and a beta of 0.31. The firm's fifty day moving average is $15.68 and its 200-day moving average is $16.45. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. As a group, research analysts anticipate that Telenor ASA will post 0.93 earnings per share for the current year.

Telenor ASA Company Profile

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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