Telenor ASA (OTCMKTS:TELNY) Cut to Hold at Citigroup

Citigroup lowered shares of Telenor ASA (OTCMKTS:TELNY) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on TELNY. Pareto Securities cut Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Zacks Research lowered shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Telenor ASA Stock Performance

TELNY opened at $16.68 on Thursday. The business’s 50 day moving average is $17.42 and its 200-day moving average is $16.10. The stock has a market cap of $22.82 billion, a PE ratio of 16.04 and a beta of 0.28. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. Telenor ASA has a twelve month low of $13.79 and a twelve month high of $18.92.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Telenor ASA had a return on equity of 16.31% and a net margin of 18.28%. On average, analysts predict that Telenor ASA will post 2.09 earnings per share for the current year.

About Telenor ASA

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.