Telenor ASA (TELNY) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research downgraded shares of Telenor ASA (OTCMKTS:TELNY) from a buy rating to a hold rating in a research report released on Saturday.
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. “
Separately, ValuEngine raised shares of Telenor ASA from a hold rating to a buy rating in a report on Thursday, October 26th.
Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Wednesday, October 25th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Telenor ASA had a net margin of 9.72% and a return on equity of 28.08%. research analysts predict that Telenor ASA will post 1.28 EPS for the current fiscal year.
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About Telenor ASA
Telenor ASA is a telecommunication company. The Company’s segments include Norway, Sweden, Denmark, Hungary, Bulgaria, Montenegro & Serbia, dtac-Thailand, Digi-Malaysia, Grameenphone-Bangladesh, Pakistan, India, Myanmar, Broadcast and Other units. The Company’s main products and services are mobile communication, fixed line communication and broadcasting activities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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