Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – Time to Sell?

Shares of Telenor ASA (OTCMKTS:TELNY) gapped down before the market opened on Friday. The stock had previously closed at $13.96, but opened at $13.47. Telenor ASA shares last traded at $13.4315, with a volume of 4,066 shares.

Wall Street Analyst Weigh In

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

Telenor ASA Price Performance

The company has a market cap of $18.36 billion, a price-to-earnings ratio of 13.69 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.32. The company’s 50 day moving average price is $14.02 and its 200-day moving average price is $15.20.

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

About Telenor ASA

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.