Telenor ASA (OTCMKTS:TELNY) Sees Large Volume Increase – Here’s What Happened

Telenor ASA (OTCMKTS:TELNY) shares saw strong trading volume on Monday . Approximately 73,238 shares were traded during trading, an increase of 43% from the previous session’s volume of 51,285 shares.The stock last traded at $13.93 and had previously closed at $14.09.

Analyst Upgrades and Downgrades

TELNY has been the subject of several research reports. Zacks Research downgraded shares of Telenor ASA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Pareto Securities upgraded shares of Telenor ASA from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Citigroup downgraded Telenor ASA from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Barclays cut Telenor ASA from an “equal weight” rating to an “underweight” rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Telenor ASA currently has a consensus rating of “Hold”.

Telenor ASA Trading Up 0.8%

The firm’s 50-day moving average is $14.62 and its 200-day moving average is $16.38. The company has a current ratio of 1.32, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market cap of $19.16 billion, a price-to-earnings ratio of 14.29 and a beta of 0.31.

Telenor ASA (OTCMKTS:TELNY) last released its quarterly earnings data on Thursday, July 16th. The utilities provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Telenor ASA had a return on equity of 15.27% and a net margin of 17.19%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. As a group, sell-side analysts anticipate that Telenor ASA will post 0.93 EPS 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.