Telenor ASA (OTCMKTS:TELNY) Sees Unusually-High Trading Volume – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) saw unusually-high trading volume on Thursday . Approximately 80,155 shares changed hands during trading, an increase of 145% from the previous session’s volume of 32,692 shares.The stock last traded at $16.4650 and had previously closed at $16.49.

Analysts Set New Price Targets

TELNY has been the topic of several recent research reports. Citigroup cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Pareto Securities cut shares of Telenor ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, Zacks Research cut shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Telenor ASA has an average rating of “Reduce”.

Telenor ASA Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $22.56 billion, a PE ratio of 15.85 and a beta of 0.28. The stock’s 50-day moving average is $17.18 and its two-hundred day moving average is $16.23.

Telenor ASA (OTCMKTS:TELNY) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.94 billion. On average, equities analysts predict that Telenor ASA will post 2.09 EPS for the current 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.