Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Should You Buy?

Shares of Telenor ASA (OTCMKTS:TELNY) saw an uptick in trading volume on Tuesday . 149,711 shares were traded during trading, an increase of 284% from the previous session’s volume of 38,946 shares.The stock last traded at $18.6370 and had previously closed at $18.77.

Analyst Upgrades and Downgrades

Separately, Pareto Securities upgraded Telenor ASA from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Telenor ASA Stock Down 1.3%

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.51 and a current ratio of 0.52. The company has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $15.68. The firm has a market capitalization of $25.36 billion, a PE ratio of 33.10 and a beta of 0.37.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data on Friday, February 6th. The utilities provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). Telenor ASA had a net margin of 10.15% and a return on equity of 15.72%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.07 billion. Analysts forecast that Telenor ASA will post 0.79 EPS for the current fiscal year.

About Telenor ASA

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.