Telenor ASA (OTCMKTS:TELNY) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Telenor ASA (OTCMKTS:TELNY) posted its earnings results on Wednesday. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04, Zacks reports. Telenor ASA had a return on equity of 16.94% and a net margin of 26.85%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.93 billion.

Telenor ASA Trading Up 1.9%

Shares of OTCMKTS:TELNY opened at $14.31 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.32 and a quick ratio of 1.30. Telenor ASA has a 1 year low of $12.97 and a 1 year high of $18.92. The company has a market cap of $19.58 billion, a P/E ratio of 9.41 and a beta of 0.31. The stock’s fifty day moving average price is $13.92 and its 200-day moving average price is $15.63.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group lowered Telenor ASA from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Kepler Capital Markets raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 24th. Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Berenberg Bank raised Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Three analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Telenor ASA Company Profile

Telenor ASA is a Norwegian telecommunications company headquartered in Fornebu, Norway. The company provides mobile voice and data services, fixed broadband, television, digital communications and related technology services to consumers, businesses and public-sector customers.

Telenor’s core operating businesses are concentrated in the Nordic region, including Norway, Sweden, Denmark and Finland. Its services include mobile networks, fiber and other broadband connections, entertainment offerings, enterprise connectivity, Internet of Things solutions and digital services.