Short Interest in Telenor ASA (OTCMKTS:TELNY) Drops By 99.9%

Telenor ASA (OTCMKTS:TELNY - Get Free Report) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 100 shares, a drop of 99.9% from the May 15th total of 79,100 shares. Currently, 0.0% of the company's stock are sold short. Based on an average trading volume of 133,300 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Dnb Nor Markets cut Telenor ASA from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 23rd.

Telenor ASA Price Performance

TELNY traded down $0.00 during trading on Thursday, hitting $15.19. The company's stock had a trading volume of 8,796 shares, compared to its average volume of 39,663. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 0.88. Telenor ASA has a 12 month low of $10.55 and a 12 month high of $15.76. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 11.68 and a beta of 0.45. The firm's 50 day moving average price is $14.66 and its two-hundred day moving average price is $13.16.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $19.67 billion. Telenor ASA had a net margin of 24.17% and a return on equity of 16.15%. Sell-side analysts forecast that Telenor ASA will post 0.79 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a dividend of $0.299 per share. This represents a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, May 23rd. Telenor ASA's dividend payout ratio is presently 83.08%.

Telenor ASA Company Profile

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.