Telenor ASA (OTCMKTS:TELNY) Trading Down 0.3% - Here's What Happened

Key Points

• Telenor ASA's stock price fell by 0.3% to last trade at $15.77, with trading volume significantly down by 23% from its average.
• Several brokerages have downgraded Telenor ASA, including New Street Research from "strong-buy" to "hold" and Dnb Nor Markets from "hold" to "strong sell," with a consensus rating now at "Hold."
• Telenor ASA declared a dividend of $0.299 per share, reflecting a high yield of 381.0% and a payout ratio of 90.54%.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) shares were down 0.3% during mid-day trading on Tuesday . The company traded as low as $15.74 and last traded at $15.77. Approximately 11,652 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 15,038 shares. The stock had previously closed at $15.81.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Berenberg Bank lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. New Street Research lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Dnb Nor Markets cut Telenor ASA from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Telenor ASA has an average rating of "Hold".

Telenor ASA Stock Performance

The business has a fifty day moving average of $15.57 and a 200-day moving average of $14.52. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 1.02. The company has a market cap of $22.24 billion, a PE ratio of 21.96 and a beta of 0.43.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $20.02 billion. Telenor ASA had a return on equity of 14.56% and a net margin of 13.67%. Equities research analysts anticipate 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a dividend yield of 381.0%. Telenor ASA's payout ratio is currently 90.54%.

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.