Telenor ASA (OTCMKTS:TELNY) Cut to “Sell” at Zacks Investment Research
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. “
TELNY has been the topic of a number of other reports. Goldman Sachs Group upgraded Telenor ASA from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 29th. ValuEngine lowered Telenor ASA from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, DNB Markets lowered Telenor ASA from a “hold” rating to a “sell” rating in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.93.
Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings results on Tuesday, July 16th. The utilities provider reported $0.25 EPS for the quarter. The business had revenue of $3.24 billion for the quarter. Telenor ASA had a return on equity of 25.08% and a net margin of 14.02%. As a group, research analysts forecast that Telenor ASA will post 1.15 EPS for the current year.
Telenor ASA Company Profile
Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. Its principal products and services include mobile communication, fixed line communication, and broadcasting services. The company's mobile communication services comprise voice, data, Internet, and content services, as well as customer equipment and messaging.
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