Telenor ASA (OTCMKTS:TELNY) Shares Gap Down – What’s Next?

Telenor ASA (OTCMKTS:TELNY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $17.89, but opened at $16.92. Telenor ASA shares last traded at $16.91, with a volume of 3,287 shares.

Analyst Upgrades and Downgrades

Separately, Pareto Securities raised shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Telenor ASA presently has a consensus rating of “Hold”.

Telenor ASA Stock Performance

The stock’s 50-day moving average is $17.13 and its 200-day moving average is $15.98. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 30.54 and a beta of 0.36. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Friday, February 6th. The utilities provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.07 billion. Telenor ASA had a net margin of 10.15% and a return on equity of 15.52%. On average, analysts predict that Telenor ASA will post 0.79 EPS 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.