Telenor ASA (OTCMKTS:TELNY) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Telenor ASA from hold to strong sell, adding to a generally bearish analyst outlook on the stock.
• Other firms have also turned more cautious recently, including Pareto Securities, Barclays, and Citigroup; overall, the stock now carries a consensus “Reduce” rating.
• Telenor shares were trading at $14.75, below both its 50-day and 200-day moving averages, though the company recently beat quarterly EPS estimates and slightly topped revenue forecasts.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on TELNY. Pareto Securities lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Barclays downgraded Telenor ASA from an "equal weight" rating to an "underweight" rating in a research report on Tuesday, June 23rd. Finally, Citigroup lowered Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce".

Telenor ASA Trading Up 0.5%

Shares of Telenor ASA stock opened at $14.75 on Tuesday. The business has a fifty day simple moving average of $15.89 and a 200-day simple moving average of $16.43. Telenor ASA has a fifty-two week low of $13.79 and a fifty-two week high of $18.92. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 14.18 and a beta of 0.31. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.02. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. On average, equities analysts forecast that Telenor ASA will post 2.09 EPS for the current fiscal 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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