Telenor ASA (OTCMKTS:TELNY) Shares Gap Up – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $16.67, but opened at $18.0540. Telenor ASA shares last traded at $18.02, with a volume of 1,372 shares traded.

Analysts Set New Price Targets

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

Telenor ASA Price Performance

The stock has a market capitalization of $24.94 billion, a P/E ratio of 32.55 and a beta of 0.38. The business has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $15.58. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 0.98.

Telenor ASA (OTCMKTS:TELNY) last posted 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). Telenor ASA had a net margin of 10.15% and a return on equity of 15.72%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, analysts expect that Telenor ASA will post 0.79 earnings per share for the current 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.