Telenor ASA (OTCMKTS:TELNY) Announces Earnings Results, Beats Estimates By $0.02 EPS

Telenor ASA (OTCMKTS:TELNY) announced its quarterly earnings data on Tuesday. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02, Zacks reports. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%.

Telenor ASA Stock Up 2.2%

TELNY stock traded up $0.36 during trading on Thursday, hitting $16.38. 6,895 shares of the company’s stock were exchanged, compared to its average volume of 33,532. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 29.25 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. Telenor ASA has a 52-week low of $13.79 and a 52-week high of $18.92. The business has a 50-day moving average price of $17.57 and a two-hundred day moving average price of $16.10.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TELNY. Zacks Research cut shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

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.