Telenor ASA (TELNY) Raised to Buy at Zacks Investment Research

Posted by Joseph Griffin on Mar 24th, 2018 // Comments off

Telenor ASA (OTCMKTS:TELNY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage currently has a $25.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.41% from the stock’s current price.

According to Zacks, “Telenor ASA is a leading telecommunications company in Norway, which is among the most advanced telecommunications markets in the world. It is a provider of mobile communications services worldwide. The Company has four segments: mobile communication, fixed line communication, TV-based activities (Broadcast), and others. The Telenor Group is dynamic and flexible in its business approach, always exploring new markets and new technologies to make long-term investments. This is part of the reason why Telenor has grown from a national telephone service company in Norway to one of the world’s largest mobile provider. The Telenor Group is now a driving force in the industry, engaging in pioneering research and technology development and other areas that are important to develop the core business of Telenor further. “

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Separately, ValuEngine cut shares of Telenor ASA from a “buy” rating to a “hold” rating in a research report on Friday, January 5th.

TELNY stock traded up $0.23 during mid-day trading on Friday, hitting $22.44. 35,548 shares of the stock traded hands, compared to its average volume of 69,200. Telenor ASA has a 1 year low of $15.40 and a 1 year high of $24.49. The stock has a market capitalization of $33,347.38, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 7.22 and a beta of 0.97. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.85.

Telenor ASA (OTCMKTS:TELNY) last released its earnings results on Tuesday, January 30th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 9.74% and a return on equity of 27.21%. The firm had revenue of $3.93 billion during the quarter. analysts forecast that Telenor ASA will post 1.38 earnings per share for the current year.

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About Telenor ASA

Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.

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