Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – What’s Next?

Telenor ASA (OTCMKTS:TELNY) gapped down prior to trading on Tuesday. The stock had previously closed at $13.56, but opened at $13.12. Telenor ASA shares last traded at $13.1720, with a volume of 35,033 shares trading hands.

Analysts Set New Price Targets

Several analysts recently weighed in on TELNY shares. The Goldman Sachs Group cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Berenberg Bank raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Zacks Research upgraded Telenor ASA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Telenor ASA Stock Down 2.5%

The company has a market cap of $18.08 billion, a price-to-earnings ratio of 13.48 and a beta of 0.31. The stock’s 50-day moving average is $14.13 and its 200-day moving average is $15.42. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Thursday, July 16th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Telenor ASA had a net margin of 17.19% and a return on equity of 15.27%. On average, analysts anticipate that Telenor ASA will post 0.93 earnings per share for the current fiscal year.

Telenor ASA Company Profile

Telenor ASA is a Norwegian telecommunications company that provides mobile and fixed-line communications services, broadband, television, and related digital services. Its offerings serve consumer and business customers and include mobile voice and data, fiber and wireless broadband, connectivity, Internet of Things solutions, and other communications services.

Headquartered in Fornebu, Norway, Telenor operates primarily in the Nordic region and has established partnerships and investments in telecommunications businesses in parts of Asia.