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

Telenor ASA (OTCMKTS:TELNY) shares saw unusually-strong trading volume on Thursday . Approximately 100,892 shares changed hands during trading, an increase of 233% from the previous session’s volume of 30,339 shares.The stock last traded at $17.3601 and had previously closed at $17.45.

Analyst Ratings Changes

Separately, Pareto Securities downgraded shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Telenor ASA Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.69. The company’s 50-day simple moving average is $17.74 and its 200-day simple moving average is $16.09. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 31.04 and a beta of 0.36.

Telenor ASA (OTCMKTS:TELNY) last issued its quarterly earnings data on Friday, February 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.07 billion. Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. On average, equities research analysts anticipate that Telenor ASA will post 2.09 EPS for the current 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.