Telenor ASA (OTCMKTS:TELNY) Stock Price 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%.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TELNY. New Street Research cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday. Dnb Nor Markets cut shares of Telenor ASA from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. Finally, Berenberg Bank cut shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold".

Telenor ASA Stock Down 0.3%

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 stock's 50-day simple moving average is $15.53 and its 200-day simple moving average is $14.44. The firm has a market capitalization of $21.58 billion, a P/E ratio of 21.31 and a beta of 0.43.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last released its earnings results on Friday, July 18th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $20.02 billion. Telenor ASA had a net margin of 13.67% and a return on equity of 14.56%. As a group, research analysts predict that Telenor ASA will post 0.79 earnings per share for the current fiscal year.

Telenor ASA Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 26th were paid a dividend of $0.299 per share. This represents a dividend yield of 381.0%. The ex-dividend date was Friday, May 23rd. Telenor ASA's dividend payout ratio is presently 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.

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