Telenor ASA (OTCMKTS:TELNY) Shares Cross Below 50 Day Moving Average – Should You Sell?

Telenor ASA (OTCMKTS:TELNY)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.93 and traded as low as $15.60. Telenor ASA shares last traded at $15.68, with a volume of 24,385 shares changing hands.

Wall Street Analyst Weigh In

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

Telenor ASA Price Performance

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’s 50 day moving average price is $16.93 and its 200 day moving average price is $16.35. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 15.08 and a beta of 0.28.

Telenor ASA (OTCMKTS:TELNY) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.94 billion. On average, equities research analysts predict that Telenor ASA will post 2.09 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.