Telenor ASA (OTCMKTS:TELNY) Trading Down 0.2% - What's Next?

Key Points

• Telenor ASA's shares decreased by 0.2% during mid-day trading, closing at $16.55 after trading as low as $16.46.
• Recent analyst activity includes multiple downgrades, with firms like Berenberg Bank and Zacks Research lowering their ratings from "strong-buy" to "hold."
• The company's latest earnings report revealed a miss in earnings per share at $0.21, against a consensus estimate of $0.22, indicating potential financial challenges.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) shares traded down 0.2% during mid-day trading on Tuesday . The stock traded as low as $16.46 and last traded at $16.55. 18,226 shares were traded during mid-day trading, an increase of 27% from the average session volume of 14,367 shares. The stock had previously closed at $16.58.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TELNY shares. Berenberg Bank downgraded Telenor ASA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Zacks Research cut Telenor ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Finally, New Street Research lowered shares of Telenor ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce".

Telenor ASA Trading Down 0.2%

The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 22.36 and a beta of 0.44. The company's 50-day moving average price is $16.41 and its 200-day moving average price is $15.44. The company has a quick ratio of 0.42, a current ratio of 0.44 and a debt-to-equity ratio of 1.02.

Telenor ASA (OTCMKTS:TELNY - Get Free Report) last announced its earnings results on Friday, July 18th. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $1.97 billion for 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 analysts expect that Telenor ASA will post 0.79 EPS for the current fiscal year.

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.

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