Telenor ASA (OTCMKTS:TELNY) Sees Strong Trading Volume – Here’s What Happened

Shares of Telenor ASA (OTCMKTS:TELNY) saw strong trading volume on Monday . 83,691 shares changed hands during trading, an increase of 103% from the previous session’s volume of 41,243 shares.The stock last traded at $14.49 and had previously closed at $14.41.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TELNY. Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Zacks Research raised Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Finally, Barclays cut shares of Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Telenor ASA Stock Up 0.5%

The business’s fifty day moving average price is $16.05 and its two-hundred day moving average price is $16.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The firm has a market capitalization of $19.81 billion, a P/E ratio of 13.92 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Equities analysts expect that Telenor ASA will post 2.09 earnings per share 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.