Telenor ASA (OTCMKTS:TELNY) Announces Earnings Results, Misses Expectations By $0.02 EPS

Telenor ASA (OTCMKTS:TELNY) posted its earnings results on Thursday. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports. Telenor ASA had a net margin of 17.19% and a return on equity of 15.75%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion.

Telenor ASA Stock Performance

OTCMKTS TELNY opened at $13.75 on Friday. The business’s 50 day moving average price is $15.63 and its 200-day moving average price is $16.43. Telenor ASA has a fifty-two week low of $12.97 and a fifty-two week high of $18.92. The company has a market cap of $18.81 billion, a P/E ratio of 14.03 and a beta of 0.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TELNY shares. Barclays downgraded Telenor ASA from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, June 23rd. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Telenor ASA has a consensus rating of “Hold”.

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.