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

Telenor ASA (OTCMKTS:TELNY)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.69, but opened at $17.01. Telenor ASA shares last traded at $17.03, with a volume of 1,155 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Telenor ASA currently has an average rating of “Reduce”.

Telenor ASA Trading Up 0.3%

The stock’s 50 day simple moving average is $17.82 and its 200 day simple moving average is $16.07. The firm has a market cap of $23.58 billion, a PE ratio of 30.77 and a beta of 0.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.69 and a current ratio of 0.71.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Friday, February 6th. The utilities provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts forecast that Telenor ASA will post 0.79 earnings per share for the current fiscal year.

Telenor ASA Company Profile

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.