Telenor ASA (OTCMKTS:TELNY) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.42 and traded as high as $17.86. Telenor ASA shares last traded at $17.6420, with a volume of 23,963 shares traded.

Wall Street Analysts Forecast Growth

Separately, Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Telenor ASA Trading Up 0.6%

The stock has a market capitalization of $24.28 billion, a PE ratio of 31.68 and a beta of 0.36. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $16.48 and a 200-day moving average price of $15.90.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings results on Friday, February 6th. The utilities provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Telenor ASA had a return on equity of 15.52% and a net margin of 10.15%. As a group, equities analysts forecast that Telenor ASA will post 0.79 EPS for the current fiscal 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.