Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) gapped down before the market opened on Thursday . The stock had previously closed at $15.74, but opened at $14.9410. Telenor ASA shares last traded at $14.95, with a volume of 2,838 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on TELNY. Pareto Securities lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Citigroup lowered shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Telenor ASA from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Telenor ASA Stock Up 0.1%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71. The company has a market cap of $20.58 billion, a price-to-earnings ratio of 14.46 and a beta of 0.28. The stock’s fifty day moving average is $16.75 and its two-hundred day moving average is $16.39.

Telenor ASA (OTCMKTS:TELNY) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Telenor ASA had a net margin of 18.28% and a return on equity of 16.31%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Sell-side analysts predict that Telenor ASA will post 2.09 earnings per share for the current fiscal year.

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.